Crosspoint

Absolute Software Announces Completion of Acquisition by Crosspoint Capital Partners

Retrieved on: 
Thursday, July 27, 2023
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Absolute Software ™ (NASDAQ: ABST) (TSX: ABST) (“Absolute” or the “Company”), the only provider of self-healing, intelligent security solutions, today announced the successful completion of its acquisition by an affiliate of Crosspoint Capital Partners, LP (Crosspoint Capital), a leading private equity investment firm focused on the cybersecurity, privacy and infrastructure software markets.

Key Points: 
  • Absolute Software ™ (NASDAQ: ABST) (TSX: ABST) (“Absolute” or the “Company”), the only provider of self-healing, intelligent security solutions, today announced the successful completion of its acquisition by an affiliate of Crosspoint Capital Partners, LP (Crosspoint Capital), a leading private equity investment firm focused on the cybersecurity, privacy and infrastructure software markets.
  • On May 11, 2023, an affiliate of Crosspoint Capital and Absolute Software announced that they had entered into a definitive agreement pursuant to which an affiliate of Crosspoint Capital would acquire Absolute Software for $11.50 per Common Share in cash, corresponding to an enterprise value of approximately US$870 million, inclusive of the debt.
  • “We are very excited about this acquisition and working with Crosspoint Capital to further strengthen our unique position in the market and in delivering the next generation of Resilience,” said Christy Wyatt, Absolute President and Chief Executive Officer.
  • “This acquisition is only possible because of the outstanding contributions from our employees, the support of our customers, and the powerful ecosystem of OEM partners around Absolute.

Edenbrook Capital Sends Follow-Up Letter to Absolute Software Board

Retrieved on: 
Tuesday, June 6, 2023
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Further, the Circular describes two amendments to the Credit Agreement, on March 30 and May 8, that raise troubling questions.

Key Points: 
  • Further, the Circular describes two amendments to the Credit Agreement, on March 30 and May 8, that raise troubling questions.
  • With our target to attain a net debt to adjusted EBITDA ratio that's below 2 times in a two-year timeframe.
  • As we've discussed, we're targeting a net debt to adjusted EBITDA ratio below 2 times in a two-year timeframe."
  • The issues laid out in this letter and the May 18 Letter detail numerous flaws with the price and process related to the Proposed Acquisition.

Edenbrook Capital Sends Letter to Absolute Software Board

Retrieved on: 
Thursday, May 18, 2023
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Our firm, Edenbrook Capital, LLC, is a large shareholder of Absolute Software Corporation ("the Company" or "Absolute"), with ownership of approximately 10.38% of the company, based on the 53,059,224 shares outstanding in the Company's 6-K filed on May 15, 2023.

Key Points: 
  • Our firm, Edenbrook Capital, LLC, is a large shareholder of Absolute Software Corporation ("the Company" or "Absolute"), with ownership of approximately 10.38% of the company, based on the 53,059,224 shares outstanding in the Company's 6-K filed on May 15, 2023.
  • We have been patient, supportive shareholders for over five years, and in that time, we have enjoyed a collaborative, productive relationship with the Company.
  • The deal with the lowest valuation multiple in the table was for Tufin Software, which had nearly identical revenue growth to Absolute at the time of its deal announcement.
  • But while Absolute has adjusted EBITDA margins north of 25%, Tufin had margins in the negative teens.

BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: eMagin Corporation (NYSE American – EMAN), Cvent Holding Corp. (Nasdaq - CVT), Absolute Software Corporation (Nasdaq – ABST), Home Point Capital, Inc. (Nasdaq – HMPT)

Retrieved on: 
Wednesday, May 17, 2023
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BALA CYNWYD, Pa., May 17, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations.

Key Points: 
  • BALA CYNWYD, Pa., May 17, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations.
  • If you own shares and wish to discuss the investigation, contact Jason Brodsky ( [email protected] ) or Marc Ackerman ( [email protected] ) at 855-576-4847.
  • Under the terms of the agreement, Absolute will be acquired by funds affiliated with Crosspoint Capital Partners, L.P. (“Crosspoint”).
  • Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits.

Absolute Software Reports Third Quarter Fiscal 2023 Financial Results

Retrieved on: 
Monday, May 15, 2023
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Other revenue represents revenue derived from perpetual software licenses, non-recurring professional services and ancillary product lines, including consumer products.

Key Points: 
  • Other revenue represents revenue derived from perpetual software licenses, non-recurring professional services and ancillary product lines, including consumer products.
  • Named a gold winner in the 2023 Cybersecurity Excellence Awards, with Absolute Ransomware Response named as an industry-leading Endpoint Security product.
  • Management’s Discussion and Analysis (“MD&A”) and Consolidated Financial Statements and the notes thereto for the fiscal period ended March 31, 2023 can be obtained today from Absolute’s corporate website at www.absolute.com .
  • The company will not host a conference call to discuss Q3 financial results, previously scheduled for Monday, May 15, 2023 at 5:00 p.m. Eastern Time.

BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Cvent Holding Corp. (Nasdaq - CVT), Absolute Software Corporation (Nasdaq – ABST), Home Point Capital, Inc. (Nasdaq – HMPT), Magenta Therapeutics, Inc. (Nasdaq – MGTA

Retrieved on: 
Thursday, May 11, 2023
Glossary of cue sports terms, Indian stock exchange, Tripura Merger Agreement, Brodsky, Crosspoint, Blackstone, Acquisition, COOP, Dianthus, Security (finance), Cvent

If you own shares and wish to discuss the investigation, contact Jason Brodsky ( [email protected] ) or Marc Ackerman ( [email protected] ) at 855-576-4847.

Key Points: 
  • If you own shares and wish to discuss the investigation, contact Jason Brodsky ( [email protected] ) or Marc Ackerman ( [email protected] ) at 855-576-4847.
  • Under the terms of the agreement, Cvent stockholders will receive $8.50 per share in cash for each share of the Company they own.
  • Under the terms of the agreement, Absolute will be acquired by funds affiliated with Crosspoint Capital Partners, L.P. (“Crosspoint”).
  • Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits.

Absolute Software to be Acquired by Crosspoint Capital Partners for Enterprise Value of US$870 Million

Retrieved on: 
Thursday, May 11, 2023
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Under the terms of the Arrangement Agreement, Absolute shareholders will receive US$11.50 per Common Share in cash on completion of the Acquisition, corresponding to an enterprise value of approximately US$870 million, inclusive of the debt.

Key Points: 
  • Under the terms of the Arrangement Agreement, Absolute shareholders will receive US$11.50 per Common Share in cash on completion of the Acquisition, corresponding to an enterprise value of approximately US$870 million, inclusive of the debt.
  • Crosspoint Capital is a team of world-class technology leaders, operators and investors who have dedicated their careers to building great companies.
  • “In the modern remote and hybrid work environment, maintaining device integrity and protection is more difficult than ever,” said Greg Clark, Managing Partner of Crosspoint Capital Partners.
  • In anticipation of a potential transaction, Absolute amended the terms of its senior credit agreement with Benefit Street Partners (BSP).

Crosspoint Capital Partners Leads Investment in Everseen’s €65 Million Series A Funding Round

Retrieved on: 
Thursday, May 11, 2023
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Everseen, a leading provider of AI-powered computer vision and hyper automation solutions, announced today that it has raised a €65 million Series A follow-on funding round led by Crosspoint Capital Partners (“Crosspoint”), a private equity firm focused on the cybersecurity, privacy and infrastructure software markets.

Key Points: 
  • Everseen, a leading provider of AI-powered computer vision and hyper automation solutions, announced today that it has raised a €65 million Series A follow-on funding round led by Crosspoint Capital Partners (“Crosspoint”), a private equity firm focused on the cybersecurity, privacy and infrastructure software markets.
  • The funding will be used to continue investment into Everseen’s computer vision AI technology and help the company scale.
  • Crosspoint made its original investment in Everseen in June 2021 based on the company’s disruptive computer vision AI technology, strong customer relationships and its approach to ethical AI.
  • Linking this to retailers’ existing data lakes forms the ‘modern data estate’, enabling them to receive query answers to previously impossible questions.”

DigiCert Appoints Industry Veteran Amit Sinha as Chief Executive Officer

Retrieved on: 
Wednesday, October 19, 2022
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Sinha joins DigiCert from Zscaler, Inc. ("Zscaler") where he served as President and member of the Board of Directors.

Key Points: 
  • Sinha joins DigiCert from Zscaler, Inc. ("Zscaler") where he served as President and member of the Board of Directors.
  • "I'm honored and grateful for the opportunity to lead the DigiCert team," said Amit Sinha.
  • "Digital trust is the cornerstone of our connected world and DigiCert has built a foundation with global enterprises by delivering comprehensive security solutions.
  • "We look forward to partnering with Amit, and the DigiCert leadership team, as the Company embarks on its next phase of accelerated growth and expansion."

DigiCert Acquires DNS Made Easy, Extending its Leadership in Digital Trust with Enterprise-Grade Managed DNS Services

Retrieved on: 
Thursday, June 9, 2022
Internet, CA, Privacy, CDN, DigiCert, TA Associates, TA, Software, Partnership, Crosspoint, Drinking Made Easy, Organization, Solution, Investment, Multimedia, Growth, Digital Trust Center, DNS, Technology, Acquisition, Twitter, Communication, Industry, Board, Health, Domain Name System, Automation, Cryptocurrency, Online shopping, Financial services, LEHI

LEHI, Utah, June 9, 2022 /PRNewswire/ -- DigiCert, Inc., a leading global provider of Digital Trust, backed by Clearlake Capital Group L.P. (together with its affiliates, "Clearlake"), Crosspoint Capital Partners L.P. ("Crosspoint") and TA Associates ("TA"), today announced that it has acquired DNS Made Easy, a global provider of enterprise-grade managed Domain Name System (DNS) services, as well as affiliated brands, including Constellix. Terms of the transaction were not disclosed.

Key Points: 
  • This strategic acquisition showcases our commitment, in partnership with Clearlake, TA and the DigiCert tecyam, to drive growth and expand DigiCert's product offering."
  • The acquisition of DNS Made Easy expands DigiCert's digital trust portfolio to include managed DNS services with one of the fastest DNS response times and global availability.
  • "DNS management is essential for digital business, and adding DNS Made Easy and its best-in-class solutions is further solidifying DigiCert's role as the defining company in digital trust," said Deepika Chauhan, Executive Vice President at DigiCert.
  • "DNS Made Easy is thrilled to join forces with DigiCert," said DNS Made Easy CEO Steven Job.