The Web address firm will shell out $140m for Guardent, as it seeks to expand into computer security. Internet services and Web address provider VeriSign will acquire Guardent for $140m (Â£80m) in cash and stock, in a move to expand its computer security offerings, the companies said on Wednesday. VeriSign, which launched a new initiative to offer comprehensive security services earlier this year, said the acquisition was the first major step toward expanding its client base in the area of managed security services.
Managed security is a growing area of the market, where companies such as Guardent take on the task of managing the variety of antivirus, intrusion detection, firewall, virtual private network and authentication products on offer by vendors. VeriSign, which provides authentication and verification services for Internet sites and traffic, will gain a stronger presence in managed-security services as a result of the merger.
"This is a great market for VeriSign, and we decided early on that an acquisition would make sense in this space,'' said Ben Golub, VeriSign senior vice president.
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News source: ZDNet UK