NFC and chip provider Inside Secure will buy Authentec-owned Embedded...
NFC and chip provider Inside Secure will buy Authentec-owned Embedded Security Solutions (ESS), which designs, develops and sells encryption-related security hardware and software, Inside Secure said Monday. Inside Secure will pay out $38 million in cash and up to an…
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additional $10 million from post-closing transactions to acquire the company. The transaction is set to close by the end of 2012, Inside Secure said. The purchase will allow Inside Secure to “reinforce its position as a key player in the fast-growing security solutions market,” the company said in a news release. “ESS brings to INSIDE Secure complementary offerings for a complete security architecture, as well as additional solutions for securing both content ... and data exchange.” The deal will also give Inside Secure a wider customer base in the mobile, content provider and network industries. “By leveraging the strong capabilities of INSIDE Secure’s existing Mobile NFC and Digital Security businesses, the combined offer should lead to additional sales in high growth markets,” Inside Secure said (http://xrl.us/bn2jcq).