You have to pay eternal attention to developments that could become a 10X factor in your business - Andy Grove - Only the Paranoid Survive
MAKER OF SHINY TOYS Apple is finally admitting that its products are vulnerable to attacks, having acquired security firm Authentec for $356m.
The $356m price sees Apple agreeing to pay $8 per share for the company, which is likely to help the cappuccino company fend off Mac malware and IOS hacks.
The documents of the deal read, "On July 26, 2012, AuthenTec, Inc., a Delaware corporation (the "Company"), entered into an Agreement and Plan of Merger (the "Merger Agreement") with Apple Inc., a California corporation ("Parent").
"Parent and the Company entered into an Intellectual Property and Technology Agreement (the "IP Agreement"). The IP Agreement provides Parent with the right to acquire non-exclusive licenses and certain other rights with respect to hardware technology, software technology and patents of the Company."
Authentec, for those of us who have never heard of the firm before, and we haven't, is a "leading provider of mobile security", offering tools such as content and data protection, access control and finger print security, suggesting that Apple could put futuristic unlocking techology in its next-generation Iphone.
"AuthenTec's products and technologies provide security on hundreds of millions of devices, and the Company has shipped more than 100 million fingerprint sensors for integration in a wide range of portable electronics including over 15 million mobile phones," the company boasts on its web site.
Apple was unavailable for comment. µ
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