VeriSign announced that it has acquired Reston, Virginia-based security intelligence firm iDEFENSE for approximately $40 million in cash.
“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,” said Verisign Executive Vice President and General Manager 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.”
VeriSign said in a press release that the addition of iDEFENSE will augment the comprehensive VeriSign Managed Security Services (MSS) offering and represents an expansion of the company’s ability to monitor and assess security threats in real time. VeriSign will retain the iDEFENSE employee base, and iDEFENSE will assume the VeriSign name, continuing to market the iDEFENSE suite of intelligence services.
“We are pleased that iDEFENSE has joined the VeriSign family, and we look forward to providing customers of both companies with our combined value and strength,” said John Watters, CEO of iDEFENSE.
“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,” added Watters who will continue to lead the iDEFENSE Research team under VeriSign.
The acquisition has been approved by the boards of directors of both companies. Revenue and earnings contribution from the acquisition will not be material to Verisign’s 2005 financial results.
Chris is a staff writer for Murdok. Visit Murdok for the latest ebusiness news.
