According to a very nice item at Engadget it does:
We wrote before on Absolute Softwareâs
LoJack system for laptops, but Forbes decided to put it to the test (well kind of). They gave it a thorough going over, and while weâre not sure weâd want to âsit back and wait for [the laptop] to be stolen,â? apparently as soon as your swiped lappie does get on the internet, Absolute will track down the perps (assuming the first thing the bandits do isnât wipe or replace your drive if your machine doesnât have an embedded LoJack recovery chip). Apparently a large chop-shop crime ring in Texas was even recently busted when someone brought back a LoJack equipped laptop, and the machine was even returned.