SAN FRANCISCO — After rejecting an unsolicited takeover bid seven months ago, AuthenTec has agreed to merge with UPEK Inc. hoping to create the world’s largest provider of fingerprint sensor and identity management software.
Under the terms of the agreement, Melbourne, Fla.-based AuthenTec will give Emeryville-based UPEK 5.9 million shares of its common stock and a convertible promissory note for either an additional 8 million shares of common stock or repayment of the $21.6 million principal.
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