VeriSign acquires security service provider

Thursday, 18 December 2003, 1:33 PM EST

"In addition to being a world-class company in its own right, Guardent is a perfect strategic fit," said VeriSign chief executive officer Stratton Sclavos.

"By combining forces, we will solidify VeriSign's leadership in network security," he said, adding that with Guardent's customer base, vulnerability management technology and security expertise, the merged company will be better able to serve customers.

VeriSign will pay about $140m in stock and cash for Guardent, while gaining about 150 full-time Guardent employees. The acquisition, which is expected to close in the first quarter of next year, is subject to regulatory approvals and other conditions.

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