Symantec Acquires VeriSign’s Authentication Services Business for $1.28 Billion
May 27, 2010
Technology security company Symantec announced recently it has acquired VeriSign’s authentication services business for $1.28 billion. The product lines in the deal include VeriSign’s Secure Sockets Layer (SSL) Certificate Services, the Public Key Infrastructure (PKI) Services, the VeriSign Trust Services and the VeriSign Identity Protection (VIP) Authentication Service. While reviews have been mixed regarding the acquisition’s ability to turn Symantec into a one-stop network security shop, the company said it sees aspects of VeriSign’s business that can be integrated quickly to lead it in that direction. “We will provide details on product roadmap after the close of the acquisition,” Francis deSouza, senior vice president of Symantec’s enterprise security and compliance group told net-security.org. “However, in the future, we see the benefits of combining VeriSign’s SSL Certificate Services with Critical System Protection and Symantec Protection Suite for Servers. By bringing these offerings together Symantec will be positioned to help organizations both ensure a higher level of security on their web servers and, providing users with the trust and confidence necessary to do business online.” Symantec expects the deal to close by September, subject to regulatory approvals.