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VeriSign now confirms they are Buying Guardent for $140 million

Dec 17, 2003 2:48AM PST

UPDATED : Sale now confirmed by Verisign : Internet services and Web address provider VeriSign Inc. will acquire Guardent Inc. for $140 million 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. "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. The companies did not break out stock and cash figures for the merger, which is expected to close in February. VeriSign said it expects the acquisition to be neutral to 2004 earnings, and promised to provide more financial information once the deal is closed. Guardent Chief Executive Marina Cirino, who will join VeriSign to head up security services, said that Guardent's brand would be phased out over time. VeriSign will add about 150 employees of Guardent, a closely held company based in Waltham, Massachusetts, to its current staff of about 3,000.

More: http://www.securitynewsportal.com/index.shtml

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