Apple acquired Authentic, who is a leading provider of mobile and network security for the tidy sum of $356 million last week. Under the deal, Authentic are set to become a wholly owned subsidiary of Apple.
Shares of Authentic closed at $5.07 on the 27th of July, with Apple paying a 58-percent premium on this valuation at $8 per share. This means that share holders of Authentic would've had a nice surprise for the weekend just gone. Authentic are best known for producing fingerprint sensors, NFC chips and security software for mobiles.
Authentic has some big customers in their pockets, such as Samsung, HP, Fujitsu, Dell and Lenovo. Apple seem to have secured a firm which deals in security, after the many many stories of their OS being not as secure as they're previously stated. We should hopefully see the effects of Apple's latest acquisition in the coming years.
Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.