Customers can manage their entire deployment regardless of device is on or off the network using a cloud based interface provided by Absolute Software. The company also provides data and device security. Application and license management, automated patch management, computer imaging, self-encrypting drives for hardware security and mobile device management are some of the benefits provided by the company's software.
LiveTime has a scalable web-based service platform that works on the same device platforms as Absolute’s existing solutions. LiveTime provides customers with a solution that fits both the service delivery requirements and business objectives of their organization. Its processes and workflows enable the organization to migrate their service in a more holistic approach involving the entire business.
LiveTime has a global reference customer base that spans large to small organizations in the education, corporate, government and healthcare market verticals. Its systems will integrate tightly with Absolute’s current solutions. LiveTime help desk product completed baseline integration with Absolute Manage several years ago. The integration work will also extend the benefits of Absolute’s Computrace persistence platform.
The total cost of the acquisition is less than $15 million and consists of a mixture of cash and stock. Approximately 60% is due on completion with the remainder due based on a three year earn-out.
“The benefits of this transaction are twofold,” said John Livingston, Chairman and CEO at Absolute Software. “First, LiveTime will quickly meet the needs of Absolute Manage customers that are looking for help desk and service management functionality. This need was identified in the Gartner Magic Quadrant for Client Management Tools, and has been a regular request from our customer base. Second, LiveTime products, which will be re-branded as Absolute Service and Absolute Help, open up another $4 billion market for Absolute. By leveraging our traditional technology strengths and sales infrastructure, we are well positioned to penetrate this market and to generate long-term organic growth.”