Symantec buys VeriSign security business for $1.28bn

Symantec says it will become the leading source of trust online with the addition of VeriSign’s security assets

Tags: Cyber crimeIdentificationIdentity theftSymantec CorporationUSAVeriSign
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Symantec buys VeriSign security business for $1.28bn Symantec is buying VeriSign’s security assets for $1.28 billion.
By  Vineetha Menon Published  May 20, 2010

Symantec is buying out VeriSign's security business for about $1.28 billion in a deal that's expected to close this September.

The acquisition will see Symantec take over the division of VeriSign that sells security technology to websites including the Secure Sockets Layer (SSL) Certificate Services, Public Key Infrastructure (PKI) Services, VeriSign Trust Services and VeriSign Identity Protection (VIP) Authentication Service.

Symantec's security solutions protect more than one billion systems around the world and the VeriSign deal will see them helping companies incorporate identity security into their framework so that new computing models such as cloud computing, social networking and mobile computing can be adopted securely.

"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.

The VeriSign check mark is a recognised symbol of trust online with more than 175 million impressions every day on more than 90,000 websites in 160 countries.

Symantec will be adding the VeriSign check mark in a new Symantec logo once the transaction has closed ‘to convey to users that it is safe to communicate, transact commerce and exchange information online'.

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