Symantec Corp. (NASDAQ: SYMC) has announced that it plans to acquire VeriSign for around $1.3 billion. Symantec will acquire VeriSign’s authentication and identity business.
That 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.
“With the anonymity of the Internet and the evolving threat landscape, people and organizations are struggling to maintain confidence in the security of their interactions, information and identities online. At the same time, people“™s personal and professional lives have converged and they want to use their various digital devices to access information wherever they are without jeopardizing their privacy,” said Enrique Salem, president and CEO, Symantec.
Under the signed definitive agreement, Symantec will pay around $1.28 billion in cash.
“At the same time, IT is faced with the challenge of giving users the appropriate access, while ensuring that corporate data is not at risk. We believe the solution to this dilemma lies in the ubiquity of identity-based security,” Salem said. “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.”
Recently, Symantec also acquired PGP Corporation and GuardianEdge Technologies, Inc. for around $370 million.