AuthenTec Sells Embedded Security Division for $48 Million
AuthenTec, a security solutions company Apple recently agreed to acquire, has sold off its embedded security division to Inside Secure for $48.
Part of the company’s business involved providing embedded security solutions, including encryption algorithms and other protections to a variety of mobile device makers including LG, Motorola, Samsung and Nokia, but that division is now being sold off to NFC company Inside Secure for around $48 million. The sale suggests Apple’s interest lies more in the company’s other products, including tools for fingerprint sensors and identity management that work with NFC, and use of its patent portfolio.
In July, AuthenTec announced that it had been acquired by Apple for $8 a share which calculates to $356 million.