Symantec buying VeriSign unit for 1.28 billion dollars
US computer security giant Symantec said Wednesday it is buying a unit of VeriSign that secures online transactions for 1.28 billion dollars.
Symantec said it was purchasing VeriSign’s identity and authentication business, which provides certificates and encryption to allow for secure transactions online, in an all-cash transaction.
“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,” Symantec president and chief executive Enrique Salem said 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,” Salem said.
VeriSign operates the largest domain name registry in the world, managing domains such as .com and .net, and has been selling off parts of the company in recent years to concentrate on its core business.
Symantec is known to consumers for its Norton anti-virus software.