Absolute Secure Endpoint empowers federal
agencies to strengthen cyber resiliency amid increasing threats and
IT complexity
Absolute Software™ (NASDAQ: ABST) (TSX: ABST), a provider of
self-healing, intelligent security solutions, today announced that
it has earned a Federal Risk and Authorization Management Program
(FedRAMP) Ready designation suitable for a FedRAMP JAB
Authorization. The designation is granted at the Moderate Impact
level for Absolute’s Secure Endpoint product suite. In achieving
this designation, Absolute is enabling federal agencies to
strengthen cyber resiliency and maintain complete visibility and
control across their device fleets - minimizing IT management
costs, reducing risk exposure, and improving incident response
capabilities. Absolute is listed on the FedRAMP Marketplace as a
FedRAMP Ready vendor.
After already being prioritized for a Joint Authorization Board
(JAB) Authorization, achieving FedRAMP Ready status is the next key
milestone on the journey to full FedRAMP Authorization – and it
means that Absolute’s Readiness Assessment Report (RAR) has been
approved.
“Ensuring US Government agencies maintain the strongest possible
security posture is critical to the national security of our
country, and directly aligns with Absolute’s mission to make every
organization resilient to cyber threats and confident in its
ability to respond to incidents,” said John Herrema, EVP of Product
and Strategy at Absolute. “Achieving FedRAMP Ready designation for
our Secure Endpoint offering both illustrates our continued
dedication to our public sector customers – empowering them to
drive innovation, enhance efficiency, and maximize security
effectiveness – and lays the foundation for full FedRAMP
authorization for the entire Absolute Platform.”
“By receiving FedRAMP Ready status from the Joint Advisory
Board, Absolute is demonstrating its ability to meet the superset
of all requirements of the many agencies that make up the JAB,
including DoD, DHS, and GSA,” said Samir Sherif, Chief Information
Security Officer at Absolute. “This FedRAMP Ready status recognizes
our enduing commitment to delivering the highest level of security
for all our customers.”
Gartner® estimates that end-user spending for the information
security and risk management market will grow to $169.2 billion USD
in 2022, reaching $261.9 billion in 20261. Despite this massive and
continuously increasing security investment, Absolute data has
shown that up to 25 percent of devices have unhealthy security
controls that have been tampered with, uninstalled, or have
otherwise stopped working effectively – creating gaps and blind
spots for threat actors to exploit, and driving up cost for
compliance.
Embedded in more than 600 million devices, Absolute provides an
unbreakable, two-way connection to devices and mission-critical
security applications, enabling IT and Security teams to monitor
health and compliance; detect if they are corrupted, tampered with,
or stop working effectively; and automatically repairs or
reinstalls components when necessary - without requiring human
intervention.
A government-wide program, FedRAMP allows agencies to
confidently use modern cloud technologies, with an emphasis on the
security and protection of federal information. The program
promotes the adoption of secure cloud services across the federal
government by providing a standardized approach to security and
risk assessment for cloud products and services. Absolute worked
with third-party assessment organization (3PAO) Kratos Defense
& Security Solutions, Inc. to achieve this designation.
1Gartner, Forecast: Information Security and Risk Management,
Worldwide, 2022-2026, 3Q22 Update, 28 September 2022. Gartner is a
registered trademark and service mark of Gartner, Inc. and/or its
affiliates in the U.S. and internationally and is used herein with
permission. All rights reserved.
About Absolute Software Absolute Software (NASDAQ: ABST)
(TSX: ABST) is the only provider of self-healing, intelligent
security solutions. Embedded in more than 600 million devices,
Absolute is the only platform offering a permanent digital
connection that intelligently and dynamically applies visibility,
control and self-healing capabilities to endpoints, applications,
and network connections - helping customers to strengthen cyber
resilience against the escalating threat of ransomware and
malicious attacks. Trusted by 18,000 customers, G2 recognized
Absolute as a leader for the eleventh consecutive quarter in the
Fall 2022 Grid® Report for Endpoint Management and as a leader in
the G2 Grid Report for Zero Trust Networking.
©2023 Absolute Software Corporation. All rights reserved.
ABSOLUTE, the ABSOLUTE logo, and NETMOTION are registered
trademarks of Absolute Software Corporation or its subsidiaries.
Other names or logos mentioned herein may be the trademarks of
Absolute or their respective owners. The absence of the symbols ™
and ® in proximity to each trademark, or at all, herein is not a
disclaimer of ownership of the related trademark.
Forward-Looking Statements This press release contains
certain forward-looking statements and forward-looking information
(collectively, “forward-looking statements”) which relate to future
events or Absolute’s future business, operations, and financial
performance and condition. Forward-looking statements normally
contain words like “will”, “intend”, “anticipate”, “could”,
“should”, “may”, “might”, “expect”, “estimate”, “forecast”, “plan”,
“potential”, “project”, “assume”, “contemplate”, “believe”,
“shall”, “scheduled”, and similar terms and, within this press
release, include, without limitation, statements regarding
Absolute’s new partnership with Trellix. Readers are cautioned that
such information may not be appropriate for other purposes.
Forward-looking statements are not guarantees of future
performance, actions, or developments and are based on
expectations, assumptions and other factors that management
currently believes are relevant, reasonable, and appropriate in the
circumstances. The material expectations, assumptions, and other
factors used in developing the forward-looking statements set out
herein include: that Absolute may not obtain FedRAMP certification
on the timeline currently anticipated or at all; that there may not
be sufficient demand for Absolute’s services amongst U.S. federal
government agencies and the public sector; and that Absolute may
not be successful in selling its services to such agencies.
Although management believes that the forward-looking statements
herein are reasonable, actual results could be substantially
different due to the risks and uncertainties associated with and
inherent to Absolute’s business, as more particularly described in
the “Risk and Uncertainties” section of Absolute’s most recently
filed Management’s Discussion and Analysis, which is available
under Absolute’s SEDAR profile at www.sedar.com and on EDGAR at
www.sec.gov. Additional material risks and uncertainties applicable
to the forward-looking statements herein include, without
limitation that Absolute may not obtain FedRAMP certification and
obtain complete FedRAMP authorization on the timeline currently
anticipated or at all; that there may not be sufficient demand for
Absolute’s services amongst U.S. federal government agencies and
the public sector; that Absolute may not be successful in selling
its services to such agencies; and other unforeseen events,
developments, or factors causing any of the aforesaid expectations,
assumptions, and other factors ultimately being inaccurate or
irrelevant. Many of these factors are beyond the control of
Absolute.
All forward-looking statements included in this press release
are expressly qualified in their entirety by these cautionary
statements. The forward-looking statements contained in this press
release are made as at the date hereof and Absolute undertakes no
obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as may be required by
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20230110005410/en/
Media Relations Becki Levine press@absolute.com +1
858-524-9443
Investor Relations Joo-Hun Kim IR@absolute.com +1
212-868-6760
Absolute Software (NASDAQ:ABST)
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