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Apple Inc (AAPL.O) will buy fingerprint sensor technology developer AuthenTec Inc (AUTH.O) for about $356 million, striking a deal that could put its iPhone at the center of the emerging mobile payments market.
Apple has purchased Authentec, a company which provides security hardware and software for PCs and mobile devices. Authentec’s current customers include Cisco, Fujitsu, HBO, HP, Lenovo, LG, Motorola, Nokia, Orange, Samsung, Sky, and Texas Instruments. The security firm was trading at $5.07 at market close last night, but Reuters reports that Apple will pay $8 a share, making the total purchase price $356 million. Authentec has an extensive range of patents, with over 200 filed and issued in the US. Its patent portfolio ranges from biometric fingerprint sensor technology to embedded security devices.
Amid fierce smartphone competition between Samsung and Apple that has spilled into a multinational patent battle, it looks like Apple may have opened yet another front on the M&A side: it is buying mobile security company AuthenTec — which had only just signed a deal with Samsung for Android devices — for $356 million.
Samsung Selects AuthenTec’s VPN Security to Enhance Enterprise Security in New Android Smartphones & Tablets
AuthenTec (NASDAQ:AUTH), a leading provider of mobile and network, today announced that Samsung has chosen its QuickSec™ VPN security for use in new Android smartphone and tablet models. AuthenTec’s QuickSec Mobile VPN Client for Android enhances secure communication through an Internet Protocol Security (IPsec) based VPN client which is integrated in Samsung smartphones and tablets. The integration of AuthenTec’s VPN client means that Samsung Galaxy users now have built-in security and can more easily and safely connect to enterprise networks to access resources without sacrificing mobility.
In a research report published today by Dougherty & Company, AuthenTec Inc.’s embedded security business is buying time for the fingerprint sensor business.