Reuters reports that Apple will be acquiring AuthenTec for $356 million.
AuthenTec Inc (AUTH.O), which makes fingerprint sensor chips used in personal computers, said it agreed to be bought by Apple Inc (AAPL.O) for about $356 million.
Reuters describes AuthenTec as a maker of fingerprint sensor chips. AuthenTec recently had announced a partnership with Samsung as their VPN Security provider.
From their fact sheet, AuthenTec describes its technology:
AuthenTec's award-winning smart fingerprint sensors provide multiple touch-powered features that extend beyond user authentication to include convenience, personalization and touch control. The Company's TouchChip area fingerprint sensors and modules comply with government and industry standards and offer the ruggedness, strong security and ease of integration needed for quick and broad deployment. TouchChip sensors dramatically lower the size, cost and power of fingerprint sensors versus optical-based fingerprint solutions.
AuthenTec's "swipe sensors" is described to use sub-surface technology to read the live layer of skin beneath the skin's surface.
Notably, one sensor is marketed for use specifically for authentication for mobile wallets. Apple has been rumored to be looking into mobile payments. Their Passbook technology in iOS 6 is a first step, but Apple has yet to deploy a more full scale system. Fingerprint authentication could fit into a larger payment strategy.
SeekingAlpha had recently speculated that AuthenTech may supply security chips for the next generation iPhone.
Apple is not going to the trouble of adding a biometric sensor just so that you don't have to use a four digit password. They are adding a biometric sensor so that the iPhone can become a safe and secure payment device.
Please note that I am a professional software engineer...
It's amazing to me that hardware companies, such as AuthenTec, who produce actual tangible products are purchased for significantly less than some silly, single shot app (like silly photo apps, and wow there was a pun in there) development companies. There is so much more needed in the engineering of hardware, and the accompanying software than there is in a stupid 'social app'. Hardware companies have to deal with real world engineering, real-world supply chain management etc. Where silly little software companies can just offload all the distribution off to the cloud. An app company can make a silly picture taking app that distorts your photos and they are all of a sudden worth a billion dollars; crazy.
/rant.
But, all-in-all, it's a cool acquisition. Hopefully they do something cool with it.
Just last week, AuthenTec entered an agreement (http://www.authentec.com/News/ViewNews/tabid/473/ArticleId/518/Samsung-Selects-AuthenTecs-VPN-Security-to-Enhance-Enterprise-Security-in-New-Android-Smartphones-Ta.aspx) with Samsung to implement secure VPNs for its Android hardware. Whoops.
I find it hilarious how many people think they know the cost vs. benefit of Apple's acquisitions more than Tim Cook and Co. They don't just buy up companies for no reason, and they don't waste money, but, like all things, they keep it close to the chest.
Well obviously they know what they're doing. I'm not implying otherwise. I was just hoping geniuses such as yourself would have some more insight on this than morons like me.
Apple realizes (I think) that the goal is not replacing a credit card. That's a short-sighted goal. Apple WILL replace the credit card, of course, but as a stop-gap measure. Swiping your iPhone will charge to your iTunes account, which is tied to whatever credit card you want. Eventually this middle-man route also leaves Apple to negotiate better deals or remove the credit card companies altogether and you'll not notice (or care) because the system will be the same; you'll still be charging to your AppleID. But, like I said, this is all stop-gap.
The real goal is to replace the entire wallet and maybe even my keys. Why replace the credit card when I still have to carry around my driver's license, passport, and other IDs? I'd still have to carry a wallet anyway.This is a longer term goal, but significantly better. Your phone trusting that you are you is the first step.
Please note that I am a professional software engineer...
It's amazing to me that hardware companies, such as AuthenTec, who produce actual tangible products are purchased for significantly less than some silly, single shot app (like silly photo apps, and wow there was a pun in there) development companies.
If it makes you feel any better, Instagram was purchased more for its massive number of users than its software technology.
I'd like the ability to get a fingerprint if your phone is stolen and have it reported to a database. Bet there would be a lot less stolen phones. The alternative is a remote self destruct like a James Bond Movies. (Hot Potato anyone? ) :D
Apple today launched its annual "Back to School" promotion for college/university students in the United States and Canada. This year's promotion offers a free Apple gift card with the purchase of an eligible Mac or iPad, rather than free AirPods like last year. Apple is also offering students 20% off AppleCare+ plans during the promotion.
Apple is offering a $150 gift card with the purchase ...
Wednesday June 22, 2022 6:34 pm PDT by Juli Clover
CEO Tim Cook this week did an interview with China Daily, where he once again commented on on the future of augmented reality and hinted at Apple's work on an AR/VR headset. Render via designer Ian Zelbo Cook said that Apple is excited about the opportunities available with augmented reality, which is not too far off from prior comments that he's made, but he went on to say that people should ...
The next-generation AirPods Pro could come with a long list of new features that include heart rate detection, the ability to function as a hearing aid, and a USB-C port according to a report from 52Audio.
The site claims that it has received new information on the AirPods Pro 2, and it has used that information to provide some renders on what the earbuds might look like. Design wise, there...
Wednesday June 22, 2022 2:16 pm PDT by Juli Clover
Apple today seeded the second betas of iOS 16 and iPadOS 16 to developers for testing purposes, and the new betas introduce new features and refine some of the changes that Apple made with the first iOS 16 release.
Subscribe to the MacRumors YouTube channel for more videos. Lock Screen Photo Wallpaper Customization
When customizing a photo on the Lock Screen, there are two new DuoTone and...
Wednesday June 22, 2022 12:38 pm PDT by Juli Clover
The iPad will no longer be able to be used as a home hub following the launch of iOS 16, iPadOS 16, macOS Ventura, and the HomePod 16 software this fall, Apple confirmed today.
As discovered in iOS 16 code by MacRumors contributor Steve Moser, Apple says that the iPad will no longer be supported as a home hub. This information will be displayed in the Home app after updating to iOS 16.A home ...
Apple is "likely" to announce its long-rumored mixed-reality headset as soon as January 2023, Apple analyst Ming-Chi Kuo has reiterated.
Concept render based on purported leaked information by Ian Zelbo In a detailed post on Medium, Kuo explained that Apple's headset will be a "game-changer" for the augmented-reality and virtual-reality market. Describing some of the headset's...
Apple on May 16 released iOS 15.5 and iPadOS 15.5, bringing improvements for Podcasts and Apple Cash, the ability to see Wi-Fi signal of HomePods, dozens of security fixes, and more.
Reuters reports that Apple will be acquiring AuthenTec for $356 million.
Top Rated Comments
Please note that I am a professional software engineer...
It's amazing to me that hardware companies, such as AuthenTec, who produce actual tangible products are purchased for significantly less than some silly, single shot app (like silly photo apps, and wow there was a pun in there) development companies. There is so much more needed in the engineering of hardware, and the accompanying software than there is in a stupid 'social app'. Hardware companies have to deal with real world engineering, real-world supply chain management etc. Where silly little software companies can just offload all the distribution off to the cloud. An app company can make a silly picture taking app that distorts your photos and they are all of a sudden worth a billion dollars; crazy.
/rant.
But, all-in-all, it's a cool acquisition. Hopefully they do something cool with it.
Well obviously they know what they're doing. I'm not implying otherwise. I was just hoping geniuses such as yourself would have some more insight on this than morons like me.
Apple realizes (I think) that the goal is not replacing a credit card. That's a short-sighted goal. Apple WILL replace the credit card, of course, but as a stop-gap measure. Swiping your iPhone will charge to your iTunes account, which is tied to whatever credit card you want. Eventually this middle-man route also leaves Apple to negotiate better deals or remove the credit card companies altogether and you'll not notice (or care) because the system will be the same; you'll still be charging to your AppleID. But, like I said, this is all stop-gap.
The real goal is to replace the entire wallet and maybe even my keys. Why replace the credit card when I still have to carry around my driver's license, passport, and other IDs? I'd still have to carry a wallet anyway.This is a longer term goal, but significantly better. Your phone trusting that you are you is the first step.
arn