Symantec has agreed DigiCert’s acquisition of its website security unit, and in the exchange, DigiCert will pay $950 million upfront in cash and also hand Symantec a 30% stake for it.
Actually, Symantec’s website security business has already been embattled and begun to seek for opportunity to sell its website security Unit out so as to get rid of complex entanglement, since Google decided to distrust Symantec SSL certificate in the third quarter of the next year. Now, it makes it!
According to the latest blog post from Symantec, it is certain that DigiCert is going to purchase Symantec’s website security unit. In the contract, it says Symantec will receive $950 million upfront in cash; besides, it will get a 30% stake in DigiCert as the transaction closes. Once this deal is done, the website security field will be changed into a new chapter.
In Symantec’s statement, CEO of Symantec Greg Clark said that this acquisition would make customers benefit from DigiCert which is solely focused on providing industry-leading identity and encryption solutions they need, because this combination will have a great effect on sharpening DigiCert’s enterprise focus.
For choosing new owner of its website security unit, Symantec is very selective to find the best one. Greg Clark also said Symantec has carefully examined all its potential options of new owner of website security unit, because it has to deliver its customers the best possible experience. And he was very excited about this seamless transaction to DigiCert.
DigiCert is actually a leader in providing enterprise scalable identity and encryption solution. Now, plus Symantec’s website security as well as related PKI solutions added on DigiCert’s products, its customers will get an enhanced platform, market-leading innovations, and unparalleled support. With incredible talent as well as rich experience, DigiCert is very possible to lead a new chapter of global website security.
As for DigiCert, the company talked that it was very confident to make the best preparation for this transaction, and make efforts to ensure Symantec’s customers would have a smooth experience to a new platform where they could get all industry standards as well as browser requirements. Also, it said DigiCert with Symantec’s website security unit would create the foundation to the innovations in certificate authority field in the future, which certainly would bring benefits to customers.
This deal really can be regarded as a landmark in identity and encryption solution field. Symantec’s website security unit and its related PKI solutions combining with DigiCert’s professional enterprise scalable identity and encryption products will make something new possibly in this field.