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Heat Software to Acquire Two Absolute Software Businesses.

M2 EQUITYBITES-September 22, 2015-Heat Software to Acquire Two Absolute Software Businesses

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22 September 2015 - US-based hybrid service management and unified endpoint management solutions provider Heat Software has reached a definitive agreement to acquire the assets and operations related to Absolute Manage and Absolute Service from Canadian software firm Absolute Software Corp. (TSX: ABT), Heat said.

Terms of the deal were not disclosed. Heat Software is a portfolio company of US-based private equity firm Clearlake Capital Group.

Financial terms of the deal, which is expected to close in early October 2015, were not disclosed.

Absolute Manage is an integrated, client and enterprise mobility management software solution. With Absolute Manage, organisations can manage and secure their entire mobile and endpoint devices from a single console, including Windows and Mac based PCs, as well as iOS, Android and Windows based mobile devices.

The software, when combined with the existing Heat endpoint management offering, significantly accelerates Heat Software's gain in market share and enables the company to offer customers the most comprehensive device management capabilities in the industry, the company said.

Absolute Service is an IT service management and help desk solution that enables automation of information technology infrastructure library processes such as incident management, request management, and service level management to improve customer assistance, streamline internal costs and verify compliance with policies and regulations.

As one of the leading global providers of ITSM applications, Heat Software will merge Absolute Service into the existing Heat Service Management business unit offering customers the ability to deliver world-class service while maximizing operational efficiencies with reduced cost and complexity.

Immediately after closing, all Absolute Manage and Absolute Service customers will receive full support of their existing products from Heat Software, which has the scale and ability to serve enterprises across all geographies and vertical markets.

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Publication:M2 EquityBites (EQB)
Date:Sep 22, 2015
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