VeriSign acquires iDefense for USD 40 million

VeriSign acquires iDefense for USD 40 million

Internet and Telecommunications expert VeriSign has announced plans to acquire iDefense, a company dealing in network security applications. The deal is worth around USD 40 million and would provide VeriSign with expertise in the managed security services market. The company is popular for its digital commerce and communication products and services and now plans to fold iDefense into its security services division.

iDefense would now continue to sell its suite of intelligence services under VeriSign brand name. Judy Lin, executive vice president and general manager of VeriSign security services said in a statement: “Network perimeters are expanding to include customers, partners and remote employees, so enterprises must leverage the most advanced security intelligence to protect customer data and corporate assets.”

iDefense current provide services to provide early-warning assessments of Internet security threats to a government and large enterprise clients. With VeriSign, they would get access to a wider audience and better research base to expand its services and enhance their product range. Judy Lin: “The acquisition of iDefense expands the VeriSign suite of managed security services, providing customers with additional capabilities with which to proactively protect their networks from vulnerabilities and attacks”.

iDefense CEO John Watters also spoke to the media and said: “Our iDefense intelligence-gathering capabilities, coupled with the unique intelligence VeriSign already gathers from its MSS business and operation of core Internet technologies, will enable us to provide more comprehensive, actionable intelligence to our customers before attacks strike.”

This deal is second major for the VeriSign to try to make an entry into the managed-security services industry. Earlier in late 2003, they acquired privately held security services provider Guardent for $140 million.