Symantec to buy VeriSign's security biz for $1.28b

by CXOtoday Staff    May 21, 2010

Symantec has signed a definitive agreement to acquire VeriSign’s identity and authentication business, which includes the Secure Sockets Layer (SSL) Certificate Services, the Public Key Infrastructure (PKI) Services, the VeriSign Trust Services and the VeriSign Identity Protection (VIP) Authentication Service. Under the terms of the agreement, Symantec will purchase the specific assets from VeriSign, including the majority stake in VeriSign Japan, for a purchase price of approximately $1.28 billion in cash.

"With the combined products and reach from Symantec and VeriSign, we are poised to drive the adoption of identity security as the means to provide simple and secure access to anything from anywhere, to prevent identity fraud and to make online experiences more user-friendly and hassle-free," said Enrique Salem, president and CEO, Symantec.

Symantec’s current portfolio and along with assets from VeriSign provide the depth and breadth of technologies to make identity-based security of information more universal and part of a comprehensive security solution. By combining VeriSign’s SSL Certificate Services with Symantec Critical System Protection or Protection Suite for Servers, Symantec will help organizations ensure a higher level of security on their web servers as well as verify that security.