July 28, 2012: Apple buys biometrics company AuthenTec, acquiring the technology that will power Touch ID for authentication and secure payments on the iPhone and other devices.
With a price tag of $356 million, the deal gives Apple the right to use AuthenTec hardware, software and patents. In the short term, Apple engineers start working to build Touch ID sensors into the iPhone 5s. Longer-term, AuthenTec’s mobile wallet tech paves the way for Apple Pay.