Apple Acquires AuthenTec for $356 Million; Targets the Enterprise Mobile Market
By on July 27th, 2012

The war between Apple and Samsung to dominate the smartphone space just got more vicious, and I’m not talking about the patent lawsuits that the two giants keep throwing at each other.

Apple has acquired AuthenTec, a mobile security company which specializes in fingerprint sensor chips used for security and identification purposes. Apple acquired AuthenTec for $356 million, according to an SEC filing.

AuthenTec had earlier signed a deal with Samsung to enable its devices to cater to the “Bring Your Own Device” trend that is picking up in enterprises. AuthenTec’s service would enable enterprise IT managers to quickly secure and authenticate devices brought by their employees to work, specifically Android devices by Samsung. This would allow Samsung to aim for the very lucrative enterprise device market to boost sales of its smartphones and tablets.

Apple acquired the company for just $356 million, which is pretty low considering that it had raised close to $600 million from investors.

Apple is looking to target the enterprise market with the iPhone and iPad in order to continue its growth momentum, so this deal makes perfect sense. We aren’t sure how this impacts AuthenTec’s existing deals with the likes of Samsung, as well as its other clients which include Dell, Lenovo and Fujitsu.

Apple will be acquiring the company for $8 a share, which represents a 60% bump over its share price.

via Techcrunch

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Author: Pathik Google Profile for Pathik
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Pathik has written and can be contacted at pathik@techie-buzz.com.
 
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