Apple Inc. (NASDAQ: AAPL) has agreed to buy AuthenTec Inc. (NASDAQ: AUTH) in a deal valued at about $356 million. That comes to $8.00 per share, compared to $5.07 at Thursday’s close.
AuthenTec produces fingerprint sensor chips and security software for mobile phones. The Melbourne, Fla.-based company has annual revenue of about $70 million. Lenovo Group Ltd., Fujitsu Ltd. and Dell Inc. (NASDAQ: DELL) are among its customers.
It’s worth noting that earlier this month, AuthenTec closed a deal with Samsung Electronics Co. that would put its QuickSec VPN security into new Google Inc. (NASDAQ: GOOG) Android-based smartphones and tablets. Apple and Samsung have a long-running disupte over patents as they fight for marketshare in the competitive mobile devices space.
Shares of AuthenTec are now trading near $8.25, leading some to speculate that investors are willing to bet Apple could face a competing bid.
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
