Davis Polk Counsels Symantec In $1.3B VeriSign Deal

Law360, New York (May 19, 2010, 6:47 PM EDT) -- Computer security and storage company Symantec Corp. announced Wednesday that it would buy VeriSign Inc.'s identity and authentication business for $1.28 billion in cash.

The specific assets Symantec will purchase include a controlling interest in VeriSign's Japanese unit, Symantec said. VeriSign's identity and authentication business includes its Secure Sockets Layer Certificate Services, the Public Key Infrastructure Services, Trust Services and the VeriSign Identity Protection Authentication Service.

Symantec said it expected the transaction to reduce earnings by 9 cents per share in fiscal year 2011, and to...
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