On May 11, 2023, Absolute Software, specializing in self-healing, intelligent security solutions, announced an agreement for acquisition by Crosspoint Capital Partners. The deal, valued at approximately C$1.18 billion (US$870 million), including debt, stipulates that Absolute shareholders will receive C$11.50 (US$11.50) per share in cash. This offer marks a significant premium over Absolute's recent trading values on Nasdaq.

Crosspoint Capital, recognized for its cybersecurity expertise, is set to aid Absolute's growth, especially in today's challenging remote and hybrid work environments. Greg Clark, Managing Partner at Crosspoint, commended Absolute's advancement in asset visibility, endpoint resilience, and reliable access solutions. Christy Wyatt, Absolute's President and CEO, noted the development of their unique self-healing security platform and anticipated the partnership's potential for future growth.

The acquisition process, unanimously approved by Absolute’s Board, requires shareholder approval and will be conducted as a court-approved plan of arrangement under British Columbia's Business Corporations Act. It's expected to be completed in the second half of 2023, after which Absolute's shares will be delisted and the company will cease as a reporting issuer.

The transaction's advisors included Perella Weinberg Partners and Raymond James Ltd. for Absolute, with legal advice from Cooley LLP and Blake, Cassels & Graydon, LLP. Crosspoint was advised by Ropes & Gray and Stikeman Elliott for legal matters and Barclays for financial consultation.