VeriSign aquires Thwate and Signio
Published: 21 Dec 1999 15:56 GMT
Internet security firm VeriSign has bought Thwate Consulting and Signio for a combined total of $1,303m (£810m) in VeriSign stocks.
South African based Thwate Consulting, which provides digital certificate encryption solutions for Web sites and applications, was purchased for $575m in stocks. Signio, which provides payment services linking financial institutions and is backed by US banks Fargo Wells and Bank of America, was aquired for $728m worth of stocks.
These acquisitions see VeriSign increase its involvement online transaction and e-commerce security and will and increase the pressure on competitors Entrust and CertCo to also consider merging.
President and CEO of VeriSign Stratton Sclavos describes the deal as part of VeriSign's plans to dominate the market saying: "The combination of VeriSign and Thawte's customer bases, widely-deployed digital certificate root keys and highly-skilled engineering and customer service organisations will enable us to provide unparalleled trust services to Web sites, developers, ISPs and other constituencies across the Internet."
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