When the best in one Software as a Service (SaaS) area combines with the best in another, good things happen for everyone. So, it goes with Plurilock’s (PLUR.V) just announced deal with Absolute Persistence, which turns PLUR’s already bulletproof security software into a juggernaut.
Stand by for words that will do things to your brain that you might not want.
“Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) [..] an identity-centric cybersecurity solutions provider for workforces, has announced a strategic partnership with Absolute Software (NASDAQ:ABST) (TSX: ABST), a leader in next generation Endpoint Resilience solutions, pairing their Application Persistence capabilities with the Company’s DEFEND continuous authentication solution.”
You still here? Stay with me, I’ll explain it all.
“The partnership, announced at the InfoSec World Digital 2021 event, aligns with Absolute’s launch of Absolute Application Persistence-as-a-Service (APaaS) and allows Plurilock to embed the power of self-healing in its DEFEND continuous authentication product. As a result of the partnership, Plurilock will offer a new comprehensive offering called DEFEND Persisted.”
Okay, that’s some verbiage. Here’s what it means.
Plurilock has a product that organizations use in high security workplaces that uses keystroke and mouse click behaviour to verify that the person using a given computer is the person who is supposed to be using it. Logins and passwords are notoriously insecure, so the Plurilock product watches from the wings, looking for variations in behaviour that might show Bob from the Agricultural Research Department is not in actuality Phyllis from Accounting jumping on his machine while he grabs a mocha.
This product works and is rapidly picking up business for Plurilock in the areas of government, military, and Fortune 500 companies.
But every secured system has potential flaws if you work hard enough to get around them, and one such issue for Plurilock has been that its product needs to remain in contact with its servers while its security check is doing its thing. A sustained threat to connectivity, like a Distributed Denial of Service (DDoS) attack, might take Plurilock out for just long enough for it to be breached.
No more.
With the new deal announced yesterday, Plurilock adds the persistence technology of Absolute Software to its mix, which will mean even if Plurilock’s connectivity is attacked, it can ‘self heal’ using the Absolute tool.
“With the DEFEND Persisted offering, users will benefit from the existing continuous authentication technology, now with self-healing capabilities built in. By hardening DEFEND with Absolute’s Application Persistence, Plurilock is helping to ensure that their product remains healthy, installed, and working effectively across their customer base. Absolute APaaS partners will also have access to telemetry data that offers insights into application health and performance.”
Absolute is a half billion-dollar company with software found in over half a billion devices, providing persistent connection and the ability to monitor and repair the health of each device.
We’ve been talking about Plurilock for a year now, and it’s been nailing new contracts in hard-to-get sectors for that entire time. We maintain the company is an attractive takeout target for a big acquirer and working closely with a NASDAQ company like Absolute puts it well in the frame for that kind of thinking. Their product is unique, their IP protected and strong, and larger fish can either partner with them (as Absolute has here) or buy them at a premium, if they want to be in that game.
For what it’s worth, Absolute is doing its own talking up of this deal, bragging about the tech Plurilock brings it.
Good deal at a good company that we remain invested in.
— Chris Parry
FULL DISCLOSURE: Plurilock is an Equity Guru marketing client
