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The Rise of Crosspoint Capital: A Glimpse into the Absolute Software Acquisition

The Rise of Crosspoint Capital: A Glimpse into the Absolute Software Acquisitionacquisition,crosspointcapital,absolutesoftware,rise
Crosspoint Capital Partners, a private equity firm, has acquired security solutions provider Absolute Software for $870 million, which includes the security provider’s current debt. Absolute Software offers endpoint security and secure access solutions – enabling visibility and control over devices, applications, and network connections, and has 21,000 customers around the world. The acquisition was unanimously approved by Absolute’s board of directors, but is subject to shareholder approval at a special meeting to be held in late June.

Upon completion, Crosspoint Capital Partners will acquire all issued and outstanding common shares of Absolute at $11.50 per share, making Absolute Software a private company. As part of the deal, Absolute Software’s common shares will no longer be traded publicly. The deal is also subject to court and regulatory approval.

Crosspoint Capital has made notable security acquisitions in recent years, including the RSA Conference, as well as network detection and response firm ExtraHop, alongside Bain Capital Private Equity for $900 million. This acquisition highlights the ongoing trend of private equity firms focusing on cybersecurity and highlights the growing need for strong internet security solutions in the current landscape.

The acquisition of Absolute Software comes amid a sharp uptick in cyberattacks and data breaches, which have caused a significant impact on businesses, government organizations, and individuals worldwide. As companies shift towards remote work and organizations’ reliance on cloud computing and digital technologies only grows, the need for cybersecurity has become more important than ever before.

In the wake of this acquisition, it is essential that businesses re-evaluate their internet security infrastructure and ensure they are using reliable and effective cybersecurity solutions. As the threat of new cyber-attacks and malware continues to grow, investing in secure access and endpoint security solutions helps organizations better protect themselves from cybercrime. It is also crucial to realize that even once the deal is completed, should Absolute be successful in its renewed private-equity life, similar M&A deals are likely to continue in the sector as investors are eyeing cybersecurity startups with more money than ever before.

In conclusion, the acquisition of Absolute Software by Crosspoint Capital for $870 million marks another significant private equity transaction in the cybersecurity sector. The move is a testament to the growing need for strong internet security solutions that can combat the threats of cybercrime in the current landscape. The acquisition is good news for stakeholders and investors in the cybersecurity space, while organizations must continue to focus on their cybersecurity posture, especially when remote working and cloud-based technologies have amplified the need to secure networks.

Crosspoint Capital Acquisitionacquisition,crosspointcapital,absolutesoftware,rise


The Rise of Crosspoint Capital: A Glimpse into the Absolute Software Acquisition
<< photo by Luis Chávez >>

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