M&A Deal Summary

Crosspoint Capital Partners Acquires Absolute

On May 11, 2023, private equity firm Crosspoint Capital Partners acquired software company Absolute for 870M USD

Acquisition Highlights
  • This is Crosspoint Capital Partners’ 1st transaction in the Software sector.
  • This is Crosspoint Capital Partners’ 4th largest (disclosed) transaction.
  • This is Crosspoint Capital Partners’ 1st transaction in Canada.
  • This is Crosspoint Capital Partners’ 1st transaction in British Columbia.

M&A Deal Summary
Date 2023-05-11
Target Absolute
Sector Software
Buyer(s) Crosspoint Capital Partners
Deal Type Going Private
Deal Value 870M USD
Advisor(s) Perella Weinberg Partners (Financial)
Cooley
Cassels (Legal)

Target

Absolute

Vancouver, British Columbia, Canada
Absolute Software is a provider of self-healing, intelligent security solutions. Embedded in more than 600 million devices, Absolute's platform offers 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. Absolute was founded in 1993 and is based in Vancouver, Canada.

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Buyer(S) 1

Buyer

Crosspoint Capital Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2020
PE ASSETS 1.3B USD
Size Large
Type Sector Focused
DESCRIPTION

Crosspoint Capital Partners is a private equity firm focused on the cybersecurity, privacy and infrastructure software markets. The Firm will consider minority to full control investment situations and generally seeks businesses throughout the US. Crosspoint Capital Partners has offices in Menlo Park, California and Boston, Massachusetts.

DEAL STATS #
Overall 7 of 7
Sector (Software) 1 of 1
Type (Going Private) 3 of 3
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-15 RSA Conference

Bedford, Massachusetts, United States

RSA Conference is the premier series of global events and year-round learning for the cybersecurity community. RSAC is where the security industry converges to discuss current and future concerns and have access to the experts, unbiased content and ideas that help enable individuals and companies advance their cybersecurity posture and build stronger and smarter teams. Both in-person and online, the company brings the cybersecurity industry together and empowers the collective "we" to stand against cyberthreats around the world. It is the ultimate marketplace for the latest technologies and hands-on educational opportunities that help industry professionals discover how to make their companies more secure while showcasing the most enterprising, influential, and thought-provoking thinkers and leaders in cybersecurity today. RSA Conference is based in Bedford, Massachusetts.

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Legal