In the face of devastating penalties prepared by Google, Symantec announced plans to sell its SSL issuance certificate business to rival company DigiCert. The price of the acquisition is $950 million in upfront cash and a 30 percent stake in DigiCert stock at the closing of the transaction. At the time of writing, Symantec was the third largest SSL provider on the market after Comodo and IdenTrust, with a market share of 14% and SSL certificates running on 5.5% of the Internet's domains. DigiCert is ranked sixth with a 2.2% market share and certificates on 0.9% of the Internet's sites. On the other hand, DigiCert has a bigger presence in the IoT market, where its SSL certs are often used to encrypt traffic between smart devices and vendor servers.
- Published in Technology