AuthenTec, a global 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 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.
AuthenTec, a global 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 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 Scott Moody, Chairman & CEO of AuthenTec. “This transaction adds all of Atrua's patents to our own IP portfolio, giving AuthenTec the largest patent portfolio in the industry. 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.”