Absolute Software partners with Samsung; shares jump

Wed Apr 3, 2013 11:07am EDT
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April 3 (Reuters) - Absolute Software Corp, which makes software to prevent laptops and other portable electronic devices from being stolen, said Samsung Electronics Co Ltd would use its technology in its mobile devices, sending its shares up as much as 37 percent.

The stock was one of the top percentage gainers on the Toronto Stock Exchange and was trading at C$6.36, up about 16 percent.

Under the terms of the agreement, Samsung will embed the company's anti-theft and data-protection technology into the firmware of its Galaxy mobile devices.

Vancouver-based Absolute, which was founded in 1993, makes patented software to manage and track both mobile devices and personal laptops in the workplace.