VANCOUVER, British Columbia and SAN JOSE, Calif. – January 28, 2021 – Absolute Software™ (NASDAQ: ABST) (TSX: ABST), a leader in Endpoint Resilience™ solutions, today announced that it has been prioritized by the United States Federal Risk and Authorization Management Program (FedRAMP) to pursue a Provisional Authority to Operate (P-ATO) from the Joint Authorization Board (JAB). The JAB is the primary governance and decision-making body for FedRAMP, and is comprised of the Chief Information Officers (CIOs) from the Department of Homeland Security (DHS), the General Services Administration (GSA), and the Department of Defense (DOD).
Embedded in more than half a billion devices, the Absolute Resilience™ platform delivers complete visibility and control over devices, data, applications, and users – whether on or off the network – for always-connected asset intelligence and continuous data protection. In choosing the Absolute platform for prioritization, the FedRAMP Program Management Office (PMO) recognized the demand for Absolute’s Endpoint Resilience capabilities across various U.S. federal government agencies. This step also demonstrates Absolute’s longstanding commitment to cloud and data security, and underscores the company’s focus on serving as a trusted partner to every customer.
FedRAMP is the U.S. government's most rigorous security compliance framework in which a Cloud Service Provider (CSP) is assessed by an accredited, independent third party to meet the requirements set forth by FedRAMP. The goal of the FedRAMP program is to ensure effective, standardized, and repeatable cloud security for the government. FedRAMP authorization would indicate that Absolute is a CSP which has the necessary security controls in place to mitigate the security risks associated with cloud service use, to the degree necessary for risk associated with the relying party.
“We are excited to be prioritized for a JAB Authorization, as this is a critical first step in broadening and strengthening the endpoint security solutions we’re able to deliver to our U.S. federal government customers,” said Dianne Lapierre, CIO of Absolute Software. “We look forward to working with the JAB and the FedRAMP PMO to complete the rigorous evaluation process.”
To learn more about how Absolute enables always-connected visibility and Self-Healing Endpoint™ security for government and other organizations across the globe, visit www.absolute.com.
About Absolute Software
Absolute Software makes security work. We empower mission-critical performance with advanced cyber resilience. Embedded in more than 600 million devices, our cyber resilience platform delivers endpoint-to-network access security coverage, ensures automated security compliance, and enables operational continuity. Nearly 21,000 global customers trust Absolute to protect enterprise assets, fortify security and business applications, and provide a frictionless, always-on user experience. To learn more, visit www.absolute.com and follow us on LinkedIn.
ABSOLUTE SECURITY, ABSOLUTE, the ABSOLUTE LOGO, AND NETMOTION are registered trademarks of Absolute Software Corporation ©2024, or its subsidiaries. All Rights Reserved. Other names or logos mentioned herein may be the trademarks of Absolute or their respective owners. The absence of the symbols ™ and ® in proximity to each trademark, or at all, herein is not a disclaimer of ownership of the related trademark. Absolute Security is a Crosspoint Capital portfolio company.
Forward-Looking Statements
This press release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) which relate to future events or Absolute’s future business, operations, and financial performance and condition. Forward-looking statements normally contain words like “will”, “intend”, “anticipate”, “could”, “should”, “may”, “might”, “expect”, “estimate”, “forecast”, “plan”, “potential”, “project”, “assume”, “contemplate”, “believe”, “shall”, “scheduled”, and similar terms and, within this press release, include, without limitation, statements regarding Absolute’s pursuit of FedRAMP authorization and pursuit of increased sales to U.S. federal government agencies. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. The material expectations, assumptions, and other factors used in developing the forward-looking statements set out herein include: that Absolute will successfully complete the FedRAMP security reviews and obtain FedRAMP authorization on the timeline currently anticipated; that there is and will be demand for Absolute’s services amongst U.S. federal government agencies; and that Absolute will be able to successfully sell its services to such agencies.
Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Absolute’s business, as more particularly described in the “Risk and Uncertainties” section of Absolute’s most recently filed Management’s Discussion and Analysis, which is available under Absolute’s SEDAR profile at www.sedar.com and on EDGAR at www.sec.gov. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation: that Absolute may not successfully complete the FedRAMP security reviews and obtain FedRAMP authorization on the timeline currently anticipated or at all; that there may not be sufficient demand for Absolute’s services amongst U.S. federal government agencies; that Absolute may not be successful in selling its services to such agencies; and other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. Many of these factors are beyond the control of Absolute.
All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof and Absolute undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws.
