Symantec May Acquire VeriSign Security Unit: Report

By Brian Prince  |  Posted 2010-05-19

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 business 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 registry business.

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.

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