Absolute Software Corporation. - CEO, Christy Wyatt
CEO, Christy Wyatt
Source: The Business Journals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Absolute Software (TSX:ABT) has added two new applications to its cybersecurity platform
  • The applications, Tanium and Citrix, are now covered on Absolute’s system, bring the number of third-party apps covered to 40
  • The company’s program can “self-heal” the applications, by regularly checking them and automatically repairing missing or damaged data
  • Cybersecurity solutions have been in high demand recently, as more people have to work from home during the COVID-19 pandemic
  • Absolute Software (ABT) is up 2.88 per cent, with shares trading for C$10.70 and a market cap of $453.07 million

Absolute Software (TSX:ABT) has added two new applications to its cybersecurity platform.

The two new applications, Tanium and Citrix, are now covered on Absolute’s system. This brings the number of third-party apps which it covers to 40.

The company noted that these latest features have arrived as more people require stronger at-home cybersecurity. With lockdown measures still in place across much of the world, many people are now working from home.

This presents a security risk to companies that can usually keep sensitive information on in-house servers, rather than home computers. 

Absolute’s program contains a “self-healing” element. This means the system regularly checks the application’s state and automatically repairs missing or damaged data, without human intervention.

Absolute’s CEO, Christy Wyatt, believes the company’s cybersecurity solutions are helping businesses navigate the unprecedented challenges of recent months.

“As companies of all sizes face continued pressure to ensure business continuity, productivity, and security, there has never been a more important time for organizations to have endpoint security that is both resilient and undeletable.

“By delivering the capabilities needed to self-heal applications integral to mitigating risk and maintaining organizational security and employee productivity, we can minimize some of the burden IT and Security teams are currently shouldering – and allow them to focus on keeping their businesses running and taking care of their customers,” she said.

The company’s market share dropped more than 30 per cent, earlier this year when the COVID-19 pandemic first hit.

However, with cybersecurity one of the few industries in demand during the pandemic, the company’s share price has regained its losses. In fact, it is now even higher than it was before the pandemic hit.

Absolute Software (ABT) is up 2.88 per cent, with shares trading for C$10.70 at 1:38pm EDT. 

More From The Market Herald

" Record revenue for California Nanotechnologies (TSXV:CNO) fiscal 2022

California Nanotechnologies (CNO) announced record revenues of US$1,081,500 for the year ending February 28, 2022, a 39 per cent increase from last year.
Electrovaya - Elmira Memarzadeh, Director of Engineering Programs.

" Electrovaya (TSX:EFL) granted U.S. patent for lithium-ion electrode

Electrovaya (EFL) has received a U.S. patent for a unique battery electrode microstructure.
NEO Battery Materials - CEO, Spencer Huh (left) and A&P CEO, Hak Soo Jeon.

" NEO Battery Materials (TSXV:NBM) announces $3M investment from Automobile & PCB

NEO Battery Materials (NBM) has secured a C$3M investment from Automobile & PCB (A&P).