Symantec to Buy VeriSign Security for $1.28 Billion

Symantec Corp., the largest maker of security software, agreed to buy VeriSign Inc.’s authentication-services unit for $1.28 billion in cash, gaining a business that certifies that websites are safe.

The transaction should close by the end of September, the Mountain View, California-based company said today in a statement. It will cut 9 cents from adjusted earnings per share in the fiscal year ending next March. The purchase, which also includes a majority stake in VeriSign Japan, will begin adding to earnings by the end of September 2011, Symantec said.