Absolute Software obtains final order from Supreme Court for acquisition

Absolute Software announced that the company has obtained a final order from the Supreme Court of British Columbia approving the previously announced acquisition of all of the outstanding shares of Absolute by 1414364 B.C. LTD., an affiliate of Crosspoint by way of a statutory plan of arrangement. Under the terms of the arrangement, Absolute’s shareholders will receive $11.50 for each share held. The arrangement remains subject to customary closing conditions, including approval under Australia’s Foreign Acquisitions and Takeovers Act 1975, and is expected to close during the second half of 2023. Following completion of the Transaction, the common shares of Absolute are expected to be delisted from the Toronto Stock Exchange and the Nasdaq Global Market. An application will also be made for the company to cease to be a reporting issuer in the applicable jurisdictions following completion of the arrangement. The company will also deregister the shares under the U.S. Securities Exchange Act of 1934, as amended.