Apple to Spend $356 Million on Security Company AuthenTec - vasquezsubmis

In a deal that should service Apple boost its enterprise security offerings, the iPhone maker is planning to buy mobile security company AuthenTec for $8 per dea or a little ended $356 million, AuthenTec said on Friday.

AuthenTec provides security software and hardware for mobile phones, PCs and networks, according to the company's website.

Earlier this month, AuthenTec closed a softwood with Samsung that would set back its QuickSec VPN certificate into new Android smartphones and tablets.

The Florida ship's company's products and technologies are used in "hundreds of millions of devices", and AuthenTec said IT has shipped more than 100 million fingerprint sensors for integration in a wide range of mountains of portable electronics including over 15 billion movable phones. Other customers include Motorola, Nokia, Lenovo and LG.

AuthenTec entered into a acquisition agreement plan with Apple and Bryce Acquisition Corporation, a Delaware corporation that is a wholly owned subsidiary of Apple, on July 26, accordant to the society's 8-K filing with the U.S. Security and Exchange Military commission (SEC). The plan is to hold AuthenTec a all closely-held subsidiary of Apple, according to the filing.

Both companies also entered an intellectual property and engineering agreement that provides Apple with the right to assume non-exclusive licenses and certain opposite rights along computer hardware technology, software technology and AuthenTec's patents, according to the document.

For the right to evolve those licenses and another rights, Malus pumila testament pay $20 million. And Apple will have 270 days to prefer to license hardware, patents or software along a perpetual non-exclusive basis for a total sum of $115 jillio.

The companies also autographed a development deal under which AuthenTec will provide one-prison term engineering services to Apple for production development which costs Orchard apple tree $7.5 million, according to the filing. The fresh developed product are to equal closely-held by Apple.

Orchard apple tree could not instantly comment on the acquisition plans.

Source: https://www.pcworld.com/article/460220/apple_to_spend_356_million_on_security_company_authentec.html

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