Digicert to acquire Symantec's website security and related PKI solutions.

• Position: Technology Innovation

Lehi -- Symantec Corp. and DIGICERT, INC., announced an agreement under which DigiCert will acquire Symantec's Website Security and related PKI solutions. Under the terms of the agreement, Symantec will receive approximately $950 million in upfront cash proceeds and approximately a 30 percent stake in the common stock equity of the DigiCert business at the closing of the transaction.

The addition of Symantec's website security solutions to DigiCert's offerings will provide customers with an enhanced technology platform, and DigiCert will increase its ability to take advantage of growth opportunities in IoT and bring new approaches to the SSL...