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AuthenTec, UPEK merger forms giant biometrics provider

Posted: 10 Sep 2010 ?? ?Print Version ?Bookmark and Share

Keywords:biometrics? security? fingerprint?

Security and identity management company AuthenTec has merged with fingerprint solutions provider UPEK to create what they said is the world's largest provider of fingerprint sensors, identity management software, and biometric and embedded security solutions.

Under the terms of the agreement, which the two companies' board of directors have approved, AuthenTec will give UPEK 5.9 million shares of its common stock, as well as a promissory note for either $21.6 million or an additional 8 million common stock shares.

The merger is meant to capitalize on AuthenTec's leading position in the PC and wireless and embedded security solutions markets and on UPEK's expertise in software and government biometrics to give customers a wider choice in identity management software, smart sensor hardware, and embedded security solutions.

With UPEK patents now in its hands, AuthenTec now holds almost 200 issued and filed US patentsthe largest patent portfolio in the industry, according to a company statement. Its product lineup includes smart sensors for the PC, wireless, access control and government markets; several USB fingerprint readers; PC identity management software for enterprises (Protector Suite) and consumers (TrueSuite); and a diverse range of embedded security IP devices.

AuthenTec president and chief operating officer Larry Ciaccia has been named as the new company's chief operating officer. The headquarters will remain in AuthenTect's Melbourne, Florida headquarters.





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