Symantec closes $1.28 billion acquisition of VeriSign unitBy AP
Monday, August 9, 2010
Symantec closes purchase of VeriSign unit
DULLES, Va. — Computer security company Symantec Corp. has closed its $1.28 billion acquisition of a unit of VeriSign Inc. that sells security technology to websites, the companies said on Monday.
The deal was first announced on May 19.
The unit division Symantec is buying sells “certificates” to websites that want protection for their customers’ data. The Secure Sockets Layer, or SSL, certificates allow data to be encrypted between a user’s browser and a website’s servers. Users can recognize the technology by a padlock icon that appears on their Web browser.
Shares of VeriSign fell 1 cent to $29.49 in afternoon trading. Shares of Symantec fell 3 cents to $13.01.