Symantec Trades Its Business Of Web Certificate And Attains Fireglass
Symantec Corp., the cyber security company, has decided to trade its business that assists confirm the uniqueness of websites to takeover Thoma Bravo LLC. This data was given this week by sources having a deep knowledge of this matter. The decision will rescue Symantec from a dispute with Alphabet Inc’s Google.
Thoma Bravo is aiming to amalgamate DigiCert, its own Web certification firm, with the Symantec unit that it will obtain. The sources said this to the media in an interview on the condition of being unnamed. As a result of the deal, Symantec expects to get almost $1 Billion in an upfront cash payment. It will keep hold of a minority share in the new firm that is amalgamated with DigiCert, the sources further added to their statement.
Symantec and Thoma Bravo refused to comment. DigiCert did not instantly return an answer for the questions. The Symantec unit has turned out to be a point of focus with other Web browser owners including Google’s Chrome. These browsers have condemned the way Symantec authenticates its Web certificates. DigiCert and Symantec both authenticate these Web certificates that help confirm the uniqueness of websites so that they can be believed by those surfing the Internet.
On the other hand, Symantec also announced that it is purchasing Fireglass, the Israeli cyber security startup. The company claimed this in a small contract developed to drive its products that safe guards web browsing and corporate email from threats. Symantec is paying an unrevealed sum for the Tel Aviv-based firm comprising of almost 40 workers. Fireglass concentrates in a region of security named as “browser isolation,” a tech that makes virtual websites permitting customers to browse any content with having no viruses lay a hand on their network.
“Browser isolation” is a region that the company had been tending to make an entry for some time, Greg Clark, Chief Executive of the company, claimed to the media in an interview.