In July, a 10K filing showed that Apple acquired security company AuthenTec for $356 million. At the time, we noted Apple was presumably after the company’s various fingerprint-related technologies, while companies such as Samsung, Motorola, and others entered in deals with AuthenTec for its secure VPNs, encryption algorithms, and security-related products. Today, NFCWorld (via TechCrunch) reported Authentec has now sold its embedded security solutions division to NFC company Inside Secure. The sale would seem to indicate that Apple was indeed specifically after the company’s fingerprint and NFC solutions:
The sale suggests that Apple’s interest in acquiring Authentec lies with the company’s innovative combined fingerprint and NFC solution, which is not part of the division being acquired by Inside Secure, and will lead to renewed speculation that Apple will include NFC in future iPhones and other devices…. NFC and contactless chip provider Inside Secure is to acquire the embedded security systems division of Authentec, the fingerprint and secure solutions specialist which Apple agreed to buy for US$356m in July 2012. The transaction is valued at up to US$48m.
To get a hold of AuthenTec’s Embedded Security Solutions Division, Inside Secure will reportedly pay $38 million in cash and another $10 million “subject to completion of certain post-closing transactions.” Products the division is responsible for are currently used in hundreds of millions of mobile and networking devices worldwide, with customers ranging from Samsung, Nokia, LG, and Motorola to HBO, Cisco, and Texas Instruments. Last year, the division brought in sales of $25.3 million. expand full story