When the overall deal is for $365M, $10M starts to seem like a small penance to pay. That’s how far Apple was willing to go to acquire the fingerprint recognition technology that now fuels its very valuable and versatile “Touch ID” iPhone feature. But it seems the board of AuthenTec, the company that sold the technology to Apple, was willing to go even farther, i.e., into the gaping lion’s mouth of litigation, and the shareholders took a $10M bite.Let’s put you in AuthenTec’s shoes and see how you fare. The year is 2012 and you’re the slick, groomed CEO of a fast-rising techno company, AuthenTec. You have been busting your hump for years to hone the true asset of your company’s portfolio: fingerprint recognition technology. In this fast-growing eWorld, the ability to grant access or authority quickly and securely with the simple scan of a fingerprint on a touch screen will surely garner attention from the smartphone giants. Apple starts sniffing around and whispering sweet millions in your ear. The iGiant wants to merge to the tune of $365M, but the details of the deal are complicated. While Apple has offered you a price—$8/share—that exceeds AuthenTec’s current share values, they also… Read full this story
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