Just days after Research In Motion dropped its bid to acquire encryption company Certicom for $1.50/US$1.18, SSL certificate maker VeriSign has picked up all of Certicom’s outstanding common shares for $2.10/US$1.67 per share.
The total purchase price works out to $92 million, though after Certicom’s cash and short-term securities are taken into account, only about $50 million.
Certicom is a leader in Elliptic Curve Cryptography, and by way of the acquisition, VeriSign will further establish its leadership position in encryption technologies. VeriSign expects to leverage its reach to move Certicom’s technology into emerging markets.
Hit the read link for the full press release.