Apple Buys Fingerprint Technology Firm AuthenTec For $356 Million

Apple is known for incorporating superior security measures in its devices and systems. The company has always focused on the integrated security of the iOS devices, Mac computers, and networking hardware. The company has now acquired mobile and network security company AuthenTec Inc for about $356 million in cash.

AuthenTec is the leading supplier of smart sensors, identity management software and hardware, and embedded security devices such as fingerprint readers. In the past, the company has worked with Apple for security solutions for Mac OS. AuthenTec provided fingerprint scanning solutions for Mac OS X. AuthenTec Inc announced on Friday morning that it has been acquired by Apple for $8 per share, which equates to $356 million in total. Apple is paying 58% premium for Florida-based AuthenTec. It will also pay AuthenTec $7.5 million for some product development work. Apple has also acquired the right to pay the company to license certain patents.

BSW Financial analyst Hameed Khorsand said, “There could be other parties interested in taking a serious look at purchasing AuthenTec. If not for the technology AuthenTec owns, then for forcing Apple to pay up.”

An Apple spokesman declined to comment on how Apple plans to use AuthenTec’s technology. Exactly what Apple’s intentions might be with AuthenTec are unclear, but it’s not hard to imagine that Apple will incorporate the security firm’s fingerprint technology into something like iOS 6’s Passbook app or even the mobile OS.

Source : Reuters
Thanks To : Yahoo

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Anatol Rahman is the Editor at TheTechJournal. He loves complicated machineries, and crazy about robot and space. He likes cycling. Before joining TheTechJournal team, he worked in the telemarketing industry. You can catch him on Google+.

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