From Dark Reading

VeriSign will refocus business on Internet infrastructure, naming services
VeriSign, one of the best-known names in computer security, today took a step away from the security business by selling its authentication services business to Symantec for $1.28 billion.

VeriSign's authentication business, which includes the Secure Sockets Layer (SSL) encryption certification services, a managed Public Key Infrastructure (PKI) platform, and the company's ownership stake in VeriSign Japan, contributed approximately $101.9 million to VeriSign's revenues last quarter -- about 39 percent of the company's business.
Symantec's acquisition follows the $300 million purchase of encryption pioneer PGP and the $70 million purchase of GuardianEdge, which were announced simultaneously just three weeks ago.

"The security space is consolidating in a way that favors larger players that offer lots of products and services in an integrated package," said Mark McLaughlin, president and CEO of VeriSign, in an investor teleconference this afternoon. "If you want to succeed in this market, you have to have a broad range of services, as Symantec does."

"For 15 years, VeriSign has pioneered the SSL and related authentication services business," said Jim Bidzos, VeriSign founder and executive chairman. "Today Symantec is the best company to drive this business forward."

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