Apple to Buy Fingerprint Security Company
July 27, 2012 by Trey Thoelcke
Apple Inc. (NASDAQ: AAPL) has agreed to buy AuthenTec Inc. (NASDAQ: AUTH) in a deal valued at about $356 million. That comes to $8.00 per share, compared to $5.07 at Thursday’s close.
AuthenTec produces fingerprint sensor chips and security software for mobile phones. The Melbourne, Fla.-based company has annual revenue of about $70 million. Lenovo Group Ltd., Fujitsu Ltd. and Dell Inc. (NASDAQ: DELL) are among its customers.
It’s worth noting that earlier this month, AuthenTec closed a deal with Samsung Electronics Co. that would put its QuickSec VPN security into new Google Inc. (NASDAQ: GOOG) Android-based smartphones and tablets. Apple and Samsung have a long-running disupte over patents as they fight for marketshare in the competitive mobile devices space.
Shares of AuthenTec are now trading near $8.25, leading some to speculate that investors are willing to bet Apple could face a competing bid.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.