Symantec has been on a shopping spree of late, but with the purchase of VeriSign’s Checkmark, the security vendor broke from its usual mold.
The $1.28 billion purchase separates VeriSign from its signature authentication technology, commonly used for verifying online payments, and boosts Symantec’s profile in the e-commerce and enterprise security arenas. VeriSign, meantime, stands to enjoy an infusion of capital while it consolidates its efforts around its core domain business.
Datamation has the details on Symantec’s purchase of Checkmark.
Symantec’s acquisition frenzy veered in a slightly different direction this week with the acquisition of VeriSign’s hallmark authentication services unit for $1.28 billion in cash.
The service, which provides the security technology to authenticate online payments, instantly gives Symantec (NASDAQ: SYMC) increased cachet in the enterprise security and e-commerce landscape and allows VeriSign (NASDAQ: VRSN) to liquidate a key asset and simultaneously galvanize its strategic focus on maintaining millions of registered Internet domain names.