Apple to buy rivals' supplier AuthenTec for $356 million

Apple to buy rivals' supplier AuthenTec for $356 million
Apple Inc has agreed to buy AuthenTec Inc for $8.00 per share, the maker of fingerprint sensor chips used in personal computers said, in a deal valued at about $356 million.

AuthenTec makes security software and chips for mobile phones that it licenses to companies such as Samsung Electronics Co Ltd. It also produces chips for fingerprint recognition and near-field communication (NFC).

Melbourne, Florida-based Authentec disclosed the deal in a filing with the U.S. Securities and Exchange Commission.

Based on Thursday's closing price $5.07, the offer represents a premium of 58 percent for AuthenTec's shares.

AuthenTec, which also counts Lenovo Group Ltd, Fujitsu Ltd and Dell Inc as customers, has annual revenue of about $70 million.

Piper Jaffray advised in the deal, the company said.

Copyright Thomson Reuters 2012

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: Apple, AuthenTec, Mobile Security
Nokia finalises Finnish plant closure, repeats cut plans
Opening ceremony London 2012: Google continues the doodle tradition
Share on Facebook Tweet Snapchat Share Reddit Comment



© Copyright Red Pixels Ventures Limited 2022. All rights reserved.