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Florida Today.com
AuthenTec adding jobs: Chip demand growing in security
conscious-world
August 30, 2004
By Brian Monroe
MELBOURNE
-- Local fingerprint-sensor-maker AuthenTec Inc. is
increasing its staff by 20 percent -- adding at least 10
jobs paying from $65,000 to more than $100,000 -- to meet
the growing demand for its chips in a more
security-conscious world.
The Melbourne-based company, which employs about 55
people, has been growing rapidly since its founding in 1998
as a spinoff from defense contractor Harris Corp., which is
also based in Melbourne.
AuthenTec makes semiconductor-based chips that use a
person's fingerprint to be able to use cellular phones,
personal digital assistants, computers, homes and cars.
Experts say the overall industry is expected to grow
significantly in the next four years.
Working on such products for AuthenTec is Orlando
resident Garrett Clark. The company hired the 37-year-old
two weeks ago as a senior software engineer.
He was intrigued about AuthenTec after talking to a
friend at the company who "had nothing but good things
to say about it. I had heard enough about AuthenTec, I
wanted to try them out."
Clark said being at an up-and-coming technology company
is "very dynamic. Things happen very fast here, and
that's the kind of environment I am happier in. The work I
am doing now could find its way into hundreds of thousands
of cell phones. That idea boggles me."
Taking a chance after switching from Dictaphone, which
has two operations in Melbourne, Clark said he
"wouldn't have made the switch if I didn't think
AuthenTec had a future. I had a good feeling about the
company, and, so far, it has been living up to that."
Revenues for biometrics -- using a person's unique
features, like fingerprints, eyes or face, to restrict
access -- are forecast to nearly quadruple, from $1.2
billion in 2004 to $4.6 billion in 2008, according to the
New York-based International Biometric Group.
Capitalizing on that growth, AuthenTec announced earlier
this month that the company shipped its 3 millionth chip,
which the company said is the most any company in the
industry has shipped.
In an attempt to gain more market share, the private
company is hiring for positions in software product
marketing and development, product and biometric testing,
analog and mixed-signal design, new-business development and
channel marketing.
AuthenTec's growth in the biometrics industry and recent
announcement of adding additional high-tech, high wage jobs
is "what sets AuthenTec apart from their competitors,
and is what has helped them reach their aggressive
goals," said Lynda Weatherman, president and chief
executive of the Economic Development Commission of
Florida's Space Coast.
"We salute their decision to continue their business
expansion in Brevard," she said.
There are three trends fueling the explosive growth in
biometrics -- and fanning the revenues of companies in that
space, said Amanda Goltz, a consultant with New York-based
International Biometric Group.
The driving factor is that there is a "growing
public acceptance of biometric technologies," she said,
adding that banks and even supermarkets are using people's
fingerprints to pay bills and access account information.
Further, other countries -- including those in the
European Union -- are developing programs that use
fingerprint and facial-recognition technology together to
verify identities, she said.
Boosting biometrics overall is that many companies have
matured to be "enormously developed and reliable,
including AuthenTec," Goltz said. "They have more
capital for research and development, so fingerprint
technology is getting better doing what it does."
To sell that technology and develop new products, you
need more employees, said AuthenTec President and Chief
Executive Scott Moody. Firming up the company's financials,
AuthenTec in July secured $15 million in venture-capital
funding.
"We have tended to be conservative in hiring,"
he said. "But, given the amount of opportunity we see
and the recent funding, we are in position to ramp up
hiring. We will continue to focus on smaller, better, faster
products that use even less power."
Some of the strongest markets right now are AuthenTec
fingerprint chips in cellular phones and computers -- with a
new feature allowing the sensor to also act as a mouse,
Moody said, making a good use of space and power.
Contact Monroe at 242-3655 or bmonroe@flatoday.net
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