Symantec closes deal for VeriSign security business

The deal, valued at $1.28bn in cash, brings to Symantec all of the security-related businesses once controlled by VeriSign. It includes VeriSign’s SSL, Public Key Infrastructure (PKI), Trust and Identity Protection (VIP), and VIP Fraud Detection services.

According to a statement from Symantec, the transaction also includes a majority stake in VeriSign Japan, which the company announced in May of this year.

Symantec said the VeriSign portfolio would be incorporated into its Enterprise Security Group under the leadership of senior vice president Francis deSouza.

“Enterprises and consumers alike expect simple and secure access to information from any device, protection from identity fraud, and online experiences that are user-friendly and hassle-free,” said Enrique Salem, president and CEO of Symantec, in a press release statement.

“The combination of Symantec’s leading security solutions with VeriSign’s security products, services and recognition as the most trusted brand online, uniquely positions Symantec to drive the adoption of identity security and restore trust online.”

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