Apple has procured AuthenTec for $356 million that reveals heightening concern about its products’ susceptibility to security threats.
The Cupertino-based maker of high-quality products finally conceded about the proneness of its products to security threats, which include Mac malware and iOS hacks. As a resolution, Apple has agreed to pay $356 million for the acquisition of security firm Authentec, which is equivalent to $8 per company share.
The agreement says, “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”).
“Parent and the Company entered into an Intellectual Property and Technology Agreement (the “IP Agreement”). The IP Agreement provides Parent with the right to acquire non-exclusive licenses and certain other rights with respect to hardware technology, software technology and patents of the Company,” it adds.
Most people have not heard of Apple’s recently acquired AuthenTec, but according to facts, it is a leading mobile security provider, mainly developing tools for content and data protection, finger print security, and access control. This proposes a new door for the tech giant to add an unlocking technology feature to its succeeding iPhone innovations.
The security firm boasts, “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.”
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