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Apple Reaches Deal to Buy Security Firm AuthenTec for $356M

Apple Reaches Deal to Buy Security Firm AuthenTec for $356M

Apple has reportedly made a deal to purchase AuthenTec, a security company best known for creating fingerprint sensors. The price tag for the acquisition will be $356 million.


The asking price of $8-per-share represents a 58 percent premium over AuthenTec Inc.’s closing price of $5.07 on Thursday, according to Reuters. Among other products, AuthenTec creates chips that drive secure fingerprint sensors in personal computers.

The company also makes software, hardware and applications that work with fingerprint sensors. In addition, AuthenTec offers solutions such as security toolkits and VPN clients.

Among the services the company provides is security for a near-field communication based mobile e-wallet. Persistent rumors have said that Apple is investigating adding an NFC chip and e-wallet abilities to a future model of their popular iPhone.

The acquisition agreement was approved with unanimous consent by AuthenTec’s board this week. The deal has yet to be finalized, as it requires approval from the majority of outstanding shares of the company’s common stock.

Earlier this month, the Melbourne, FL based AuthenTec announced that its QuickSec VPN securoty product was chosen by Apple competitor Samsung for use in its new Android phones and tablets. The company’s Mobile VPN Client for Android allows communication through a secure VPN.

AuthenTec has shipped more than 100 million fingerprint sensors for integration in a wide range of potable electronics, including over 20 million mobile phones.