Apple to Buy Mobile Security Company AuthenTec for $356 Million

Reuters reports that Apple has reportedly reached a deal to purchase AuthenTec, a security company best known for creating fingerprint sensors, for $356 million. The acquisition agreement was approved with unanimous consent by AuthenTec's board this week, according to Bezinga. The deal is not yet finalized because it requires approval from the majority of outstanding shares of the company's common stock, among other final steps.

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.

One service that the company provides is security for a near-field communication based mobile e-wallet. Rumors have persisted that Apple is interested in adding an NFC chip and e-wallet functionality to a future iPhone, perhaps as soon as this fall with the launch of iOS 6. Fingerprint authentication could fit into a payment strategy.