Absolute Software Acquires LANRev for $14.6 Million
Absolute Software Acquires LANRev for $14.6 Million
Posted 12/04/2009 at 5:01am
| by Paul Lilly
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Canadian outfit Absolute Software, maker of the popular LoJack for Laptops, said this week it has purchased LANrev security software product suite from Germany's Pole Position Software GmbH for around $14.6 million in cash and stock, PCMag.com reports.
The Canadian security software company said would pay $9.6 million in cash, with $2.5 million and 500,000 common shares to be paid over three years.
"Over the next two years, 20-40 percent of our current customers would be using this product," Absolute Chief Executive John Livingston told Reuters.
It's a low-risk deal for Absolute, who expects to save around $4 million in tax related to the transaction. And according to analyst Gabriel Leung of Paradigm Capital, the deal is likely to have a positive impact on Absolute's portfolio, filling in gaps "particularly in the asset management side of things."
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