Short answer is yes, but no.
I bought it under the premise that no iLok dongle was required since that what was advertised on their site. This is true, but if you don't have the dongle, you have to install the iLok license manager on your computer so that the plugins can be authenticated online. I didn't like this but was willing to work with it, until I found out that the iLok license manager had to be installed on any computer you use since soundtoys have to authenticate every time you run them, not just once. If you want to authenticate offline, you have to use the iLok dongle.
Aside from that issue it will run as portable from a flash drive. Honestly I wasn't impressed much with the plugins themselves so this is a deal-breaker for me at this point. Luckily I was able to get my money back since I acted quickly.
Is there a master thread of commercial plugins that are able to be run as portable? I am able to use izotope plugins and editor, sonarworks, wilkinson audio Debleeder, and also at least one plugin-alliance vst as portable without issues. Maybe everything will as long as it's not iLok specific?
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