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Symantec Offloads Web-Certification Business

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Symantec sells its website certifications and related PKI solutions business to fellow security vendor DigiCert in a deal worth $950 million in cash and stock.

Symantec"Transitioning our website security and related PKI solutions to DigiCert allows us to sharpen our enterprise focus on delivering unparalleled protection for the cloud generation through Symantec's integrated cyberdefence platform," Symantec CEO Greg Clark says. "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."

The deal has DigiCert take over Symantec SLL and TLS technology, as well as its Internet of Things (IoT) division. Symantec got most of the technology it is now selling back in 2010 through the $1.28bn acquisition of the VeriSign security business.

The sale announcement comes as Symantec reports its Q1 2017 results-- the company sees revenue growth of 33% Y-o-Y, the result of cost savings measures implemented over the past few months. These include the streamlining of distribution and channel, simplified SKUs and pricing, and modernised back-office systems.

Go DigiCert to Acquire Symantec's Website Security and Related PKI Solutions