Apple Buys AuthenTec for $356 Million

News
By Jane McEntegart
published

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.

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Jane McEntegart
22 Comments Comment from the forums
  • Old_Fogie_Late_Bloomer
    Man, I'm not sure I see Apple blemishing their pristine aluminum slabs with a fingerprint scanner... :-P
    Reply
  • sixdegree
    This only means one thing: iFinger.
    Reply
  • bri88
    Just another thing for iCrap to use to sue others, watch you will see.
    Reply
  • zeratul600
    damn how come we didnt know 75% stock price increased after the sale!
    Reply
  • davewolfgang
    So bets for a lawsuit on any OTHER company that uses fingerprint readers - because this company has some obscure patents (that never should have been approved in the first place)??????

    Anyone?

    Bueller?


    Bueller??
    Reply
  • Th3pwn3r
    Bri88Just another thing for iCrap to use to sue others, watch you will see.
    Watch out, you'll get down voted by the Apple fanboys.
    Reply
  • bri88
    On no icrap fans, throw them back on the band wagon thats headed to sue land (posted from Asus transformer prime)
    Reply
  • chazbeaver
    Hey look, Apple is going to use fingerprint scanners, let's all get angry.
    Reply
  • jojesa
    sixdegreeThis only means one thing: iFinger.The middle one I hope :)
    In a serious note, I do hope Apple won't start a wave of lawsuits against companies that use technology from Authentec.
    Watch out Samsung, Apple might already know that you rely on Authentec VPN security in Android smartphones and tablets.
    The Apple is out to getcha
    Reply
  • A Bad Day
    I recall Mythbuster busting an 'unbreakable' fingerprint security system with a glove...
    Reply