Apple Ups Mobile Security, Buys AuthenTec for $356 Million

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http://www.thevarguy.com – Apple (NASDAQ: AAPL) will use $356 million of its nearly $120 billion cash hoard to snap up AuthenTec (NASDAQ: AUTH), a 217-employee, Melbourne, Fla.-based mobile security vendor. The deal will pay AuthenTec’s shareholders $8 per share or a 60 percent bump over Thursday’s $5.07 closing price. AuthenTec, founded in 1998, makes fingerprint sensors and identity management software. The company, which has strategically redirected to focus on mobile security, lists Samsung, Fujitsu and LG among its mobile customers. According to its 2011 10-K filing, its top five customers accounted for 43 per (IT news)