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Symantec to buy VeriSign's security unit for $1.3B, reports say
From: InfoSec News <alerts () infosecnews org>
Date: Wed, 19 May 2010 00:01:49 -0500 (CDT)
http://www.computerworld.com/s/article/9176949/Symantec_to_buy_VeriSign_s_security_unit_for_1.3B_reports_say By Jaikumar Vijayan Computerworld May 18, 2010 Security vendor Symantec Corp. is reported to be close to buying Internet infrastructure services vendor VeriSign Inc.'s security business for $1.3 billion. The Wall Street Journal quoted unidentified sources who are said to be close to the deal as saying it would give Symantec control of VeriSign's $410 million authentication business, which provides a range of encryption technologies and services. A Reuters report late Tuesday also quoted an unnamed source as saying that VeriSign had been shopping for a buyer for its security unit recently. Meanwhile, other news reports fuled the speculation by adding that VeriSign CFO Brian Robins had abruptly pulled out of a JP Morgan investors conference on Tuesday afternoon. News of the possible deal pushed VeriSign's shares up by $1.39 or 5.18% to $28.23 Tuesday afternoon. But with the expected deal not announced until late Tuesday, VeriSign's shares yielded back some of that gain in after hours trading. Shares of Symantec meanwhile were down 2.03% to $15.95 on news of the rumored deal. [...] _______________________________________________ Best Selling Security Books and More! Shop InfoSec News http://www.shopinfosecnews.org/
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