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20 May 2010, 10:36

Symantec acquires VeriSign's web security business

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Symantec Logo As expected, US security software vendor Symantec has reached an agreement to acquire VeriSign's web security business. Under the terms of the deal, Symantec has agreed to pay approximately $1.28 billion in cash for VeriSign's identity and authentication business assets.

Symantec will take over the company'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. According to Symantec, the deal is expected to close in "the September quarter".

More details about the acquisition can be found in slides and a press release from Symantec.

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