Symantec Completes Acquisition of VeriSign's Security Business
MOUNTAIN VIEW, Calif. – August 9, 2010 – Symantec Corp. (Nasdaq: SYMC) today announced it has completed its acquisition of VeriSign’s (Nasdaq: VRSN) identity and authentication business, which includes the Secure Sockets Layer (SSL) and Code Signing Certificate Services, the Managed Public Key Infrastructure (MPKI) Services, the VeriSign Trust Seal, the VeriSign Identity Protection (VIP) Authentication Service and the VIP Fraud Detection Service (FDS). The acquisition agreement between Symantec and VeriSign also included a majority stake in VeriSign Japan and was announced on May 19, 2010.
“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, Symantec. “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 unlike any other company.”
"Symantec has acquired a strong technology suite and team that we hope to continue to leverage," said Andrew Salesky, SVP Platform Services at Charles Schwab. "We benefit by having a single primary security partner for our enterprise and client facing applications, and look forward to further enhancing these capabilities with Symantec."
Signifying Trust Online
The VeriSign check mark is the most recognized symbol of trust online with more than 250 million impressions every day on more than 90,000 websites in 160 countries. Symantec has begun the process to transition to a new corporate identity incorporating the VeriSign check mark. This will include a new corporate logo, as well as a new version of the Norton consumer logo, to convey that it’s safe to communicate, transact commerce and exchange information online. The external global roll-out will begin in the December quarter.
Creating Mutually Trusted Interactions Online
With the completion of the acquisition, Symantec’s current portfolio, along with assets from VeriSign, provides the depth and breadth of technologies to make identity-based security of information part of a comprehensive security solution. Integration efforts are expected to:
- Provide VeriSign’s SSL Certificate Services with Symantec Critical System Protection through the sales channel. By quickly enabling the sales force to begin cross-selling these offerings, Symantec will help organizations ensure and verify a higher level of security on their web servers, providing users with the trust and confidence to do business online.
- Align the VeriSign SSL and client PKI authentications services with Symantec Protection Center (SPC) to provide a unified enterprise security management solution.
- Strengthen user access security by expanding Symantec’s Data Loss Prevention solutions and Data Insight technology with VeriSign’s identity security services to ensure that only authorized users have access to appropriate information.
- Offer users strong authentication and give organizations the ability to leverage the highly-recognized VeriSign trust mark in online searches by providing VeriSign VIP authentication service along with Norton products and Symantec desktop clients.
“Our customers’ intellectual property, data and business processes are critical to their success. In today’s connected environment, protecting these valuable information assets is more important–and more challenging–than ever before,” said Mark Melvin, chief technology officer, ePlus Technology, Inc. “With the combined security products from Symantec and VeriSign, ePlus will be able to offer our customers a complete identity security solution that provides them with simple and secure access to their important business information from anywhere, while ensuring that corporate data is not at risk.”
“As identity pervades many corporate and consumer security functions, there is a strong synergy between Symantec and VeriSign,” said Christian Christiansen, vice president of security products and services, IDC. “As devices, data, web services, and applications proliferate, strong authentication and identity management become crucial to reducing risk of unauthorized information exposure, protecting privacy, and increasing trust. The incorporation of VeriSign’s market-leading SSL, PKI and VIP products into Symantec’s broad portfolio of information security solutions offers the promise of more secure interactions and transactions. By baking authentication into its security products, Symantec can extend VeriSign's "trusted web" to an even greater effect.”
VeriSign’s identity and authentication business will become part of the Enterprise Security Group led by Francis deSouza. For more information on how VeriSign complements Symantec's security portfolio please visit: http://go.symantec.com/verisign.
Symantec is a global leader in providing security, storage and systems management solutions to help consumers and organizations secure and manage their information-driven world. Our software and services protect against more risks at more points, more completely and efficiently, enabling confidence wherever information is used or stored. More information is available at www.symantec.com.
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FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including expectations regarding the integration of its acquired products and technologies into Symantec’s products and solutions and the expected customer benefits of such integration, that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release. Such risk factors include, among others, our ability to successfully integrate the acquired businesses and technology, and customer demand for the technologies and integrated product offerings. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors section of Symantec's most recently filed Form 10-K. Symantec assumes no obligation to update any forward-looking statement contained in this press release. The contents of the Symantec website shall not be deemed incorporated by reference into this press release. Any forward-looking indication of plans for products is preliminary and all future release dates are tentative and are subject to change. Any future release of the product or planned modifications to product capability, functionality, or feature are subject to ongoing evaluation by Symantec, and may or may not be implemented and should not be considered firm commitments by Symantec and should not be relied upon in making purchasing decisions.