Symantec Nearing Deal For VeriSign Security Unit
Symantec is reportedly on the acquisition hunt again, after rumours suggested it may be close to a deal with VeriSign to buy its authentication business.
Symantec may about to get its cheque book out again, after rumours suggest that the security giant will buy VeriSign’s authentication unit for a reported $1.3 billion (£908 million).
If true, the deal would be the latest attempt by VeriSign to sell off its security business.
CFO Withdraws From Conference
According to reports, speculation about a deal began when VeriSign’s chief financial officer, Brian Robins, withdrew from a JPMorgan Chase industry conference on 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.
Splashing The Cash
As for Symantec, it recently announced agreements to purchase encryption vendors PGP and GuardianEdge for a combined $370 million (£258 million).
Officials at Symantec declined to comment on the speculation when contacted by eWEEK.
