Rumors are circulating that Symantec may be close to a deal with VeriSign to buy its authentication business. It would be the latest move by VeriSign to sell off its security units, this time for a reported $1.3 billion pay day.
Rumors are circulating that Symantec will buy
VeriSign's authentication unit for a reported $1.3 billion.
If true, the deal would be the latest attempt by VeriSign to sell
off its security business. According to reports, speculation about a
deal began when VeriSign's chief financial officer, Brian Robins,
withdrew from a JPMorgan Chase industry conference Tuesday. The Wall
Street Journal later reported
that a deal was within reach.
Last year, VeriSign sold its managed security services
to SecureWorks and its security consulting business to AT&T. The
sell-off was part of a move by VeriSign to focus on its Internet
As for Symantec, it recently announced agreements
to purchase encryption vendors PGP and GuardianEdge for a combined $370 million.
Officials at Symantec declined to comment on the speculation when contacted by eWEEK.