Apple Buys AuthenTec for $356 Million
Apple celebrates the weekend by purchasing a fingerprint sensor company.
Earlier this week, Apple announced third quarter financial results that missed analyst expectations. Still it seems the company isn't letting something as small as that get in the way of things. On Friday it emerged that the Cupertino-based Apple had purchased fingerprint sensor company AuthenTec for over $350 million.
Business Week writes that AuthenTec is a network and mobile security company that makes fingerprint sensors. These sensors can then be used by corporations to secure access to their networks. With BYOD (bring your own device) becoming increasingly popular, such technology would be a valuable asset for Apple.
Apple's plans to buy the company were revealed because of an 8-K filed by AuthenTec. This filing dates the deal as having taken place on Thursday, July 26. The cash deal is worth $8-per-share or $356 million. Reuters reports that Apple is paying a a 58 percent premium for the company. According to TheNextWeb, AuthenTec already has deals with Alcatel-Lucent, Cisco, Fujitsu, HBO, HP, Lenovo, LG, Motorola, Nokia, Orange, Samsung, Sky, and Texas Instruments.