VeriSign nabs GeoTrust
The $125 million cash deal is meant to expand VeriSign's digital certificate business.
Continuing its , VeriSign on Wednesday said it will acquire rival GeoTrust for about $125 million in cash. GeoTrust, based in Needham, Mass., sells SSL (Secure Socket Layer) certificates and other products and services to secure electronic transactions.
The takeover is subject to regulatory approvals and other customary conditions and is expected to close in the second half of this year, VeriSign said in a statement. GeoTrust sells its services through a network of about 9,000 resellers in more than 140 countries, which will complement VeriSign's direct-sales SSL business, the Mountain View, Calif.-based company said.