Synaptics (SYNA) is acquiring Validity Sensors, a developer of fingerprint sensor tech for notebooks and mobile devices. The initial purchase price is $92.5M (a mixture of cash and stock), but could go as high as $255M if performance milestones are hit. The stock portion of the payout is expected to total 1.5M-2.3M shares. (PR)
Validity asserts its LifeFlex tech yields superior imaging performance thanks to its use of RF signals to "penetrate into the skin's inner live layer to scan where the fingerprint is formed, minimizing effects due to dirty, worn, or calloused skin." The company has also developed technology for separating a fingerprint module's sensor and IC into separate components; that lowers costs and improves design flexibility.
The acquisition comes shortly after Apple began selling the iPhone 5S, which uses fingerprint sensor tech obtained via AuthenTec. Some of the Android OEMs looking to integrate fingerprint sensors into their hardware could turn to Validity.
Also: Synaptics says it now expects to report FQ1 (Sep. quarter) revenue of $220M, above a $218.4M consensus. 1.2M shares were repurchased during the quarter.
Acquisition CC at 5:30PM ET. FQ1 results arrive on Oct. 24.