Authentec Sells Embedded Security Division for $48 million

The news broke back in July that Apple had acquired mobile security company Authentec and the blogosphere was full of rumors claiming the iPhone 5 would feature NFC and biometric security, courtesy of Authentec.

Authentec
Yet today, TechCrunch reports that

“part of the company’s business involved providing embedded security solutions, including encryption algorithms and other protections to a variety of mobile device makers including LG, Motorola, Samsung and Nokia, is now being sold off to NFC company Inside Secure for about $48 million.”

This clearly suggests Apple is interested more in the company’s other products such as tools for fingerprint sensors and identity management, which is compatible with NFC and the Authentec patent portfolio.

While Apple’s marketing requires the company to deny the need for NFC, the preparations for transforming the iPhone into a mobile wallet are pretty obvious – you only have to consider Passbook. The app is just one step away from becoming a mobile wallet solution, but lacks the necessary security background.

Apple’s recently granted patents, however, show that the company is smoothing the way for transforming your iPhone into a mobile wallet, and the Lightning connector is one of the necessary steps, due to its security chip.

Technology enthusiast, rocker, biker and writer of iPhoneinCanada.ca. Follow me on Twitter or contact me via email: istvan@iphoneincanada.ca