Apple, iPad, iPhone, News

Did Apple Really Just Buy A Fingerprint Recognition Company?

We’ve all heard the iWallet rumors, but how would Apple secure such a thing? Cupertino just spent a pretty penny on an odd acquisition involving a fingerprint sensor creator…

Apple has purchase mobile security firm, AuthenTec for $356 million. The company creates security chips and software including fingerprint recognition and near-field communication. Now I’m not a financial expert, but I don’t think Apple would purchase a company for $356 million for kicks and giggles…

On July 26, 2012, AuthenTec, entered into an Agreement and Plan of Merger with Apple, and Bryce Acquisition Corporation, a Delaware corporation and a wholly owned subsidiary of Parent, providing for the merger of Merger Sub into the Company, with the Company surviving the Merger as a wholly owned subsidiary of Parent. The Merger Agreement was unanimously approved by the Company’s Board of Directors.

What exactly does this mean for Apple?

They could have several different plans for this company. This could mean the start of devloping a secured “iWallet” utilizing the new iOS 6 feature, Passbook as a backbone. Apple could also be looking into ways to secure mobile phones. AuthenTec has their fingerprint scanner implemented in the Motorola Atrix from AT&T.

Here’s a quick demo video.

I think this approach is more of a gimmick. But pair this tech with NFC payments and you have a solid start to a future iWallet

I don’t know everything, but I do know that purchasing a company for $356 million is not a joke. Apple has a seriously calculated plan for the future.

What do you think?

Source: Reuters via 9to5Mac

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