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Reports surfaced Tuesday that VeriSign had been shopping around its encryption technology and service business, and naming Symantec as the buyer.
The VeriSign business unit sells SSL (Secure Sockets Layer) certificates -- used to authenticate secure Internet servers -- two-factor authentication tokens, fraud detection and public key infrastructure products for government and the enterprise. But the business has grown slowly of late, hurt by dropping SSL certificate prices, a fact that is reflected in the unit's low purchase price relative to its $371 million in annual revenue.