Symantec Selling SSL Security Business to DigiCert for $950M

Paterniano Del Favero
Agosto 3, 2017

Symantec's Website Security and PKI business includes the SSL/TLS security certificate business unit that Symantec originally acquired from VeriSign for $1.28 billion in 2010.

Symantec is selling off its Website Security business and related public key infrastructure (PKI) solutions to DigiCert in a deal worth around $1.2 billion (US$950 million). The company will employ over 1,000 professionals and will operate from its headquarters in Lehi, Utah.

Symantec's web security business brings "growth opportunities" in Internet of Things (IoT) to DigiCert, and new approaches to the secure sockets layer markets. "We will receive a minority ownership stake in DigiCert at the closing of the transaction, allowing Symantec to continue to participate in the value created by this transaction and ensure a successful transition for the customers of our Website Security and related PKI solutions". "As our recently announced deals with Fireglass and Skycure demonstrate, we are accelerating the pace of innovation we bring to market through a combination of acquisitions as well as development from the ground up".

DigiCert will continue to be led by Merrill, the company confirms.

J.P. Morgan Securities LLC is serving as financial advisor, and Fenwick & West LLP is serving as legal counsel to Symantec.

Under the terms of the deal, which is expected to be completed by the third quarter of fiscal 2018, Symantec will also get 30% stake in DigiCert.

Symantec (NASDAQ:SYMC) reports Q1 results with revenue and EPS beats.

The decision has been made to remove trust from certificates issued by Symantec before 1 June 2016, when Chrome 66 is released next spring, before extending the move to all certs a year later.

He added (more or less) that he was "thrilled" that the users would now be customers of DigiCert, which is owned by technology focused private equity outfit Thoma Bravo.

"Withdrawing trust" in a certificate authority would mean that browsers to websites using those certificates would be greeted with warnings, encouraging people to browse elsewhere and organisations to purchase digital certificates from other companies.

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