The Great VeriSign Garage Sale: 10 Big VeriSign Sell-Offs and Spin-Offs
Buyer: SymantecBusiness Unit: Security business including Secure Sockets Layer (SSL) Certificate Services, the Public Key Infrastructure (PKI) Services, the VeriSign Trust Services and the VeriSign Identity Protection (VIP) Authentication Service, plus a stake in VeriSign Japan.Price: $1.28 billionDate: May 2010Symantec views this acquisition as going hand-in-hand with its PGP and GuardianEdge buys in order to help it create what it calls the "Trusted Web."
News that VeriSign would sell off the last of its security business to Symantec was hardly a surprise to market watchers who have seen the company gradually siphon off what it calls 'non-core' businesses to focus more on Internet infrastructure services. The casting away of these non-essential business units come as a result of a 2007 executive directive designed to please investors who were growing increasingly unhappy with VeriSign's prolific business priorities. In 2009, VeriSign claims to have recouped $765 million from the shedding of these disparate units. Here are some of the highlights among those deals made since 2007.