Prior to co-founding Precept (www.preceptglobalaccess.com), I founded and ran a software company named EzValidation (as CEO) for about 5 1/2 years. With my development team in Karachi, Pakistan, we developed state-of-the-art software for the cutting-edge fingerprint security applications. We worked with top-notch companies such as, AuthenTec, Fujitsu, Atrua, Validity Sensors and Computer Associates. Most recently, AuthenTec, a Florida-based publicly traded company on NASDAQ, has acquired all software IP of our company.
AuthenTec Acquires Software Assets of EzValidation
Transaction Further Strengthens AuthenTec’s Complete End-to-End Offering
MELBOURNE, Fla.--(BUSINESS WIRE) April 16, 2008 -- AuthenTec (NASDAQ:AUTH), the world’s leading provider of fingerprint sensors and solutions, announced that it has acquired the software assets of EzValidation, formerly a California-based provider of fingerprint sensor authentication and user interface software. AuthenTec acquired the portfolio of EzValidation software, including its EzPassport fingerprint authentication software. The transaction is expected to strengthen AuthenTec’s complete client offering, providing complementary authentication software that enhances the fingerprint sensor user experience.
“This transaction will help further strengthen our complete solution, making client applications for our sensors more intuitive and easier to use,” said AuthenTec Chairman and CEO Scott Moody. “We plan to add the best features of EzPassport to AuthenTec’s software offering, enhancing the fingerprint sensor user experience. I would note that application enhancement efforts such as this are focused on the PC client, and that we will continue to collaborate with our Solution Provider Network to enable complete end-to-end enterprise solutions.”
EzPassport is an easy-to-use fingerprint authentication software application for Microsoft Windows-based systems. EzPassport offers easy user setup and enrollment, and features Windows login, password replacement, file and folder encryption, application launch, screensaver lock, and auto logoff via a very intuitive graphical user interface. The first offering of a bundled software solution from AuthenTec, which includes key features of EzPassport, is expected to be available in the third quarter of 2008.
This asset purchase is being recorded as in-process R&D and will be dilutive to AuthenTec’s first quarter earnings per share by $0.01 per share. However, first quarter non-GAAP earnings per share are still expected to be in a range of $0.01 to $0.02, per the guidance provided by the Company on February 4, 2008.
With more than 25 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 utilizing 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. The company's customers include: ASUSTeK, Fujitsu, HP, Hitachi, HTC, Lenovo, LG Electronics, Samsung, and Toshiba, among others.