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Apple Acquires Mobile Security Company AuthenTec

By July 31, 2012March 6th, 2023Cybersecurity

Apple has recently taken many steps forward in securing their data. The company has now decided to take mobile security into their own hands with AuthenTec. Last Friday, Apple agreed to purchase the mobile security company for $356 million, which represents an $8-a-share offer. This is a 58% premium over what the company closed for on Thursday ($5.07). An AuthenTec employee has confirmed the purchase.

Apple isn’t the first company to give into the need for more mobile security. Mobile viruses, malware, and other assorted threats are becoming more and more common, especially as technology progresses and mobile devices become more advanced. Most of the wireless industry has “stepped up their game” and is responding to these threats. Sprint and AT&T are consistently making updates about security patches they make to their phones, and there are rumors that both companies will start offering security services as a tack-on service for their smartphones.

AuthenTec specializes in fingerprint technology, from sensors to identity management software. It works mostly with mobile, networking, and computer companies, though the company does occasionally design systems for the government as well. Motorola, LG, Cisco and Samsung are all loyal customers of this service. Just this month, Samsung employed the security company to help protect its business-class tablets and phones.

Chris Forte

Chris Forte, President and CEO of Olmec Systems, has been in the MSP workspace for the past 25 years. Chris earned his Master’s Degree from West Virginia University, graduating Magna Cum Laude. He was a past member of the Entrepreneurs’ Organization, a current member of the New Jersey Power Partners and Executive Association of New Jersey, where he has previously served on its board of directors. In his spare time, Chris enjoys traveling with his family. He also admits to being a struggling golfer and avid watcher of college football and basketball. He currently lives in Boonton Township, NJ with his wife, two daughters, son, and black lab Luna.