AuthenTec Acquires Atrua’s AssetsJuly 15, 2009
The purchase adds the Fingerprint Touch Control and Micro Pressure Control products to AuthenTec's portfolio, as well as technologies and IP associated with the Atrua fingerprint sensor hardware and software, all of which strengthens the company's position in the wireless market.
MELBOURNE, FL /BUSINESS WIRE/ -- AuthenTec, the "world's leading provider of smart fingerprint sensors and solutions," announced that it has completed a transaction to acquire the assets of fingerprint sensor maker Atrua Technologies for approximately $4.9 million in cash. The asset purchase further extends AuthenTec's industry leading position in the wireless market and adds to its expansive intellectual property (IP) portfolio. Papers have also been filed with the Federal District Court for the Northern District of California to effect the dismissal of all claims pending in AuthenTec's patent infringement suit against Atrua, as well as Atrua's counterclaims.
Through this transaction, AuthenTec acquired certain Atrua assets, including its Fingerprint Touch Control and Micro Pressure Control products, as well as technologies and IP associated with the Atrua fingerprint sensor hardware and software. The acquired IP includes more than 30 issued and pending U.S. patents, focused primarily on fingerprint sensor and intelligent touch controls for mobile devices, bringing AuthenTec's total patent portfolio to more than 100 issued and pending U.S. patents.
"We believe that this asset acquisition further strengthens our position as the leading provider of touch-powered 'smart sensors' for mobile systems," said AuthenTec Chairman and CEO Scott Moody. "This transaction adds all of Atrua's patents to our own IP portfolio, giving AuthenTec the largest patent portfolio in the industry today. This asset acquisition also provides cost savings associated with the pending dismissal of our patent infringement lawsuit against Atrua. While prudently managing our cash position, we will continue to add to our broad portfolio through activities such as this and through our own smart sensor hardware, packaging, and software development efforts."
AuthenTec expects to record up to half of the total purchase price as an expense in the second quarter of 2009, based upon an estimate of the savings associated with the elimination of any future litigation in this matter.
AuthenTec's newest innovations for the cell phone market include its TrueNav 2.0 user navigation software, TrueYou personalization software (associating different fingers with different phone functions), and TouchStone packaging. These AuthenTec technologies are adding touch-based functionality, user features, and enhanced durability to a new generation of smart phones and cell phones. More than 10 million cell phones have included an AuthenTec sensor for Power of Touch features that include navigation, personalization, convenience, and security.
Based on the company's patented TruePrint technology, AuthenTec products deliver extremely accurate and reliable fingerprint imaging by reading beneath the surface of the skin to the live layer, where a person's true fingerprint resides. This subsurface approach enables AuthenTec sensors to overcome common skin surface conditions to read virtually every fingerprint, every time. TruePrint allows AuthenTec to offer the smallest sensors on the market, yet provide all the security, privacy, and convenience afforded in its larger form factor devices.
With nearly 50 million sensors sold worldwide, AuthenTec is the world leader in providing fingerprint authentication sensors and solutions to the high-volume PC, wireless device, and access control markets. AuthenTec's award-winning sensors take full advantage of The Power of Touch by using the company's patented TruePrint technology to deliver the most convenient, reliable and cost-effective means available for enabling touch-powered features that extend beyond user authentication.
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