AfterDawn: Tech news

Apple buys AuthenTec for mobile security tech

Written by Andre Yoskowitz @ 28 Jul 2012 11:21

Apple buys AuthenTec for mobile security tech On Friday, Apple made headlines by purchasing the publicly traded biometrics company AuthenTec for $356 million.
In doing so, it appears that the company will take a serious look at turning the iPad and iPhone into serious enterprise players.

AuthenTec is best known for fingerprint readers on PCs and other computing devices used by governments. Additionally, the company sells a product for consumers called TrueSuite, allowing users to lock down social networks with a fingerprint scan.

The companies have signed a development agreement in which Authentec will perform contract work for Apple with all future intellectual property being property of Apple. Furthermore: "Upon completion of the services, project materials will be returned to Apple or destroyed at Apple's sole discretion."

Finally, Apple will now be in control of a decent sized portfolio of mobile security patents.

Apple almost broke the bank to make the acquisition and now has only $116 billion in cash left to spend.

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