Symantec to acquire select VeriSign security systems in $1.28B cash deal

Symantec CEO Enrique Salem

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.

tag TAGS: , ,
Short URL:
b2p Ensure that you follow us on Twitter and Like us on Facebook
Tahir holds a Bachelor Commerce Finance degree from Ryerson University in Toronto. He is planning to purse an MBA in Finance. Write to [email protected]
We are perfectly committed to the highest ethical and professional codes of conduct and standards in the industry on a firm wide basis. Learn more about us, our contributors, and our governance
We encourage you to comment. Comments are moderated. Comments that are abusive, off-topic, have marginal substance, or include promotional content will be removed. We cannot facilitate requests to edit or remove comments, or explain moderation decisions

Business 2.0 Press publishes exclusive business tech news and analysis covering start-ups to large-caps from Bay & Wall streets since 2008 from a group of highly knowledgeable industry professionals that abide by the toughest industry codes of conduct and professional standards lightMore

lightAdd value by subscribing (RSS)

logo has the most stock ratios for public companies. Get the most comprehensive micro insight on public firms available on the web, all for free.
Stock Fractionsgo


Colon cancer is one of the leading causes of death. Irrespective of family history, everyone is exposed to the risk. About 90% of colon cancer cases begin from non-cancerous tumors, polyps, which could form in the large bowel. Screening with a colonoscopy will painlessly remove any polyps hence almost entirely reducing your risk of developing the horrible disease. The good news is that about 90% of colon cancer cases are preventable through a simple (yes, simple) colonoscopy.
Learn moreatom
Public service message from Business 2.0 Press