Samsung Electronics Co Ltd would utilize the technology provided by Absolute Software Corp in order to prevent laptops and other consumer electronic devices from being stolen. This caused the share values of Absolute jump by as much as 37%.
The gain was one of the highest in the Toronto Stock Exchange, trading at about Can$6.36 per share at the time of the announcement. The price then was already buoyed by a 16% increase from previous day's trading.
The agreement provides that the Korean technology conglomerate would be embedding the Canadian based company's anti-theft and data protection technology in its hardware and firmware, starting with the Galaxy mobile devices.
Absolute is based out of Vancouver and eas established in 1993. It has made its mark with its patented software that is able to track mobile devices and laptops in the workplace. With the application of the technology to one of the most successful smartphones of the past two years, it would be easier to track and recover the prized Samsung device for the owner.
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