Apple has struck a deal to buy AuthenTec for US$365 million. The company makes security and fingerprint recognition chips along with software for mobile devices, and counts Samsung among the manufacturers that use its technology.
Apple will be paying $8 a share, according to Reuters, which translates to about a 58 percent premium over the company’s stock value.
Apple buying AutheTec for $365 million
Samsung struck a deal to use AuthenTec’s technology earlier in July, according to TechCrunch. The company plans to use AuthenTec’s VPN software to boost interest for its smartphones in the enterprise market as more employees join the growing trend of bringing their own phones into the workplace.
Just how Apple plans to use AuthenTec’s technology isn’t clear yet. In fact, the deal wasn’t even officially announced, and instead was revealed as part of an AuthenTec filing with the Securities and Exchange Commission.
Apple will likely use the purchase to bring new security features to the iPhone and iPad, and this could be a precursor to NFC (Near Field Communication) tech finally coming to iOS, too, since that’s another area AuthenTec covers.