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Symantec Announces Plans to Buy VeriSign

Symantec (NASDAQ: SYMC) has announced its plans to VeriSign’s authentication and identity business for around $1.28 billion. The deal will include 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.

“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. 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.

This deal continues Symantec’s acquisition surge. Late last month, Symantec acquired two other companies for around $370 million.

“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,” Salem said.

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