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Apple to buy fingerprint sensor maker AuthenTec for $356 million

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Apple to buy fingerprint sensor maker AuthenTec for $356 million

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Apple Inc has agreed to buy AuthenTec Inc for $8.00 per share, the maker of fingerprint sensor chips used in personal computers said, in a deal valued at about $356 million.

AuthenTec makes security software and chips for mobile phones that it licenses to companies such as Samsung Electronics Co Ltd (. It also produces chips for fingerprint recognition and near-field communication (NFC).

Melbourne, Florida-based Authentec disclosed the deal in a filing with the U.S. Securities and Exchange Commission.

Based on Thursday’s closing price $5.07, the offer represents a premium of 58 percent for AuthenTec’s shares.

AuthenTec, which also counts Lenovo Group Ltd , Fujitsu Ltd  and Dell Inc ( as customers, has annual revenue of about $70 million.

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About The Author
Shivaank Rana
Shivaank Rana
iGyaan's Carlos Santana! Shivaank loves Apple products! He stays up to date with the latest happenings of the tech world and gets his hands dirty with the latest Gadgets! Follow Him on Google Plus : Google+