Symantec CEO Enrique Salem

The computer security giant Symantec has announced the company will acquire VeriSign’s Security Business for $1.28-billion in an all cash deal.

Symantec, the maker of the popular consumer and business security anti-virus software Norton, will acquire VeriSign’s identity and authentication technologies, including the firm’s secure sockets layer (SSL), and public key infrastructure (PKI) technologies, in addition to the VeriSign Trust Services which includes the checkmark trademark that is used by websites to indicate their website is safe.

Symantec says it will consolidate part of the acquired technologies with its own, more specifically the identity authentication technologies will be merged with security software that is used on Internet servers.

The added of VeriSign’s proprietary authentication technology will help Symantec provide superior services to consumers and businesses in a market segment that Symantec says will reach $1.6-billion by 2013.

Symantec president and chief executive officer Enrique Salem said today in a statement, “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.”

The acquisition would also give Symantec a controlling stake in VeriSign Japan.

The acquisition still requires U.S. regulatory approval.