Apple Acquires AuthenTec for $356 Million

AuthenTec, a provider of mobile and network security solutions, has announced that it's been acquired by Apple for $8 a share which calculates to $356 million, reports TNW.

The deal was revealed in the company's 8-K filing:

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On July 26, 2012, AuthenTec, Inc., a Delaware corporation (the "Company"), entered into an Agreement and Plan of Merger (the "Merger Agreement") with Apple Inc., a California corporation ("Parent"), and Bryce Acquisition Corporation, a Delaware corporation and a wholly owned subsidiary of Parent ("Merger Sub"), providing for the merger of Merger Sub into the Company (the "Merger"), with the Company surviving the Merger as a wholly owned subsidiary of Parent. The Merger Agreement was unanimously approved by the Company's Board of Directors.


At the effective time of the Merger, each share of Company common stock issued and outstanding immediately prior to the effective time (other than shares (i) held by the Company in treasury, (ii) owned directly or indirectly, by any of the Company's wholly owned subsidiaries, Parent, or Merger Sub or any other direct or indirect wholly owned subsidiary of Parent, or (iii) held by stockholders who have perfected and not withdrawn a demand for appraisal rights under Delaware law) will be automatically cancelled and converted into the right to receive $8.00 in cash, without interest.
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AuthenTec has over 200 filed and issued U.S. patents and signed an agreement with Samsung just last week, using its "QuickSec VPN security for use in its new Android smartphone and tablet models."

The company's website describes their services:

Our diverse product and technology offering helps protect individuals and organizations through secure networking, content and data protection, access control and strong fingerprint security on PCs and mobile devices.

AuthenTec encryption technology, fingerprint sensors and identity management software are deployed by the leading mobile device, networking and computing companies, content and service providers, and governments worldwide. AuthenTec's products and technologies provide security on hundreds of millions of devices, and the Company has shipped more than 100 million fingerprint sensors for integration in a wide range of portable electronics including over 15 million mobile phones.

Top tier customers include Alcatel-Lucent, Cisco, Fujitsu, HBO, HP, Lenovo, LG, Motorola, Nokia, Orange, Samsung, Sky, and Texas Instruments.

Apple has yet to comment on the acquisition.

Read More [via TNW]