DigiCert Deals for Symantec Cert Business

Friday, August 4, 2017 @ 01:08 PM gHale


Symantec inked a deal to sell its website security and related public key infrastructure (PKI) to DigiCert.

DigiCert will pay Symantec $950 million in cash and a stake of 30 percent in common stock equity of the DigiCert business.

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Symantec’s board approved the deal, which should close in the company’s third quarter of fiscal 2018.

The new addition to DigiCert will continue to operate under current chief executive John Merrill from its headquarters in Lehi, Utah. Right now, the company has over 1,000 workers.

With the acquisition of Symantec’s certificate business, the DigiCert is looking to bring new approaches to the TLS market and benefit from growth opportunities in IoT.

Symantec has come under fire for miss issuing TLS certificates, and Google and other web browser vendors have been discussing penalties.

Google said certificates issued by Symantec and its partners before June 1, 2016, will to end up changed by March 15, 2018. All other certificates need to be replaced until the release of Chrome 70, currently scheduled for release in October 2018.

Google said Symantec could still issue digital certificates, but only through the infrastructure of a subordinate certificate authority (SubCA). Symantec said it was trying to find a partner and informed customers the new infrastructure should be set up by December 1.



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