AuthenTec Acquires UPEK for $32,040,000
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=dc030811-92fa-42fb-addf-5561d3865ccc&Preview=1 - Date
9/7/2010 - Company Name
UPEK - Mailing Address
5900 Christie Ave. Emeryville, CA 94608 - Company Description
UPEK, Inc. is a privately-held biometric fingerprint solutions company launched as a venture-backed spin-off from STMicroelectronics in 2004. - Website
http://www.upek.com - Transaction Type
M&A - Transaction Amount
$32,040,000 - Transaction Round
- Proceeds Purposes
- M&A Terms
Under the terms of the transaction, UPEK’s shares will be exchanged for approximately 5.9 million shares of AuthenTec’s common stock and a convertible promissory note in the aggregate principal amount of $21.6 million that will be satisfied by either the issuance of approximately 8.0 million additional shares of AuthenTec common stock or the repayment of the principal amount of the note by March 1, 2011, subject to a one-time extension of up to 60 days.
