Symantec to acquire Verisign division

Authentication business bought

Symantec will pay US$1.28 billion to acquire VeriSign's authentication business.

"With the combined products and reach from Symantec and VeriSign, we are poised to drive the adoption of identity security as the means to provide simple and secure access; to anything from anywhere, to prevent identity fraud and to make online experiences more user-friendly and hassle-free," Symantec CEO Enrique Salem said last week.

The VeriSign business unit sells two-factor authentication tokens, fraud detection and public key infrastructure products for government and the enterprise.

The deal, which is subject to regulatory approval, is expected to close by September.

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Tags technologysymantecversign

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