Symantec To Buy VeriSign's Authentication Business For $1.28 Billion

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VeriSign will refocus business on Internet infrastructure, naming services

May 19, 2010 | 05:36 PM

By Tim Wilson

DarkReading



VeriSign, one of the best-known names in computer security, today took a step away from the security business by selling its authentication services business to Symantec for $1.28 billion.



VeriSign's authentication business, which includes the Secure Sockets Layer (SSL) encryption certification services, a managed Public Key Infrastructure (PKI) platform, and the company's ownership stake in VeriSign Japan, contributed approximately $101.9 million to VeriSign's revenues last quarter -- about 39 percent of the company's business.



Symantec's acquisition follows the $300 million purchase of encryption pioneer PGP and the $70 million purchase of GuardianEdge, which were announced simultaneously just three weeks ago.



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