Symantec and VeriSign® to Deliver Stronger
Identity Protection for Consumers
Joint Identity Protection and Authentication Solutions to be Offered
to Financial Institutions, Online Retailers and Consumers
NEW YORK, Oct. 10, 2006 – Symantec Corp. (NASDAQ: SYMC) and
VeriSign, Inc., (NASDAQ: VRSN) today announced plans to deliver security
solutions to combat the growing threat of consumer identity theft and
fraud on the Internet. Symantec plans to offer support for the
VeriSign® Identity Protection (VIP) Authentication Service, which allows
consumers to utilize one-time passwords to protect their online identity.
The VIP Authentication Service is enhanced by the VIP Shared Authentication
Network which enables consumers to use one credential across multiple
member websites. In addition, the two companies intend to jointly
market combined identity and security solutions to financial institutions,
online retailers and end users.
As part of its Security 2.0 strategy, Symantec will
provide its Norton customers with the best available solutions for stronger
authentication, with support and integration of Norton Accounts with
the VIP authentication credentials. The company plans to provide
access to a VIP, two-factor credential in a future release of Norton
security software. The VIP Shared Authentication Network enables
consumers to use a single credential across multiple websites. With
two of the most trusted Internet security brands, Symantec and VeriSign
have the potential to create a widely-used standard for global identity
protection. Symantec’s more than 50 million active Norton subscribers,
plus millions of additional consumers who are reached through Symantec’s
OEM and ISP channels, will have access to the joint offering.
“Our Security 2.0 vision is all about building confidence
and trust online for consumers. Identity protection and strong
authentication are critical elements of that,” said Enrique Salem, group
president, Consumer Business Unit, Symantec Corp. “By working
with VeriSign, we are combining strong assets in identity protection,
transaction security, and the confidence that millions of consumers
have in the Norton and VeriSign brands.”
“VeriSign has a long history of protecting and securing
digital identities on the Internet, and Symantec has a long history
of protecting consumers and their digital information. With a layered
security approach, across users, desktops and the network infrastructure,
VeriSign and Symantec can enable the strongest security with the most
convenience,” said Judy Lin, executive vice president and general manager,
VeriSign Security Services.
VIP Authentication Service provides identity
protection to consumers who conduct business online.
By using an open standards approach, VIP Authentication Service and
the VIP Shared Authentication Network allow enterprise members to easily
issue and accept two-factor authentication from users, thus eliminating
the need to distribute and manage traditional hardware authentication
tokens, which has hampered the adoption of stronger, safer authentication
technologies. The VIP Shared Authentication Network has also been
endorsed by PayPal, eBay, Charles Schwab and Yahoo! For more information
on VIP, please go to: http://www.verisign.com/dm/vip.
Through this relationship with VeriSign, as well as
the launch of Norton Confidential Online Edition, Symantec is working
to deliver on its Security 2.0 vision of building consumer confidence
and trust online. The company is addressing new and evolving threats
with new technologies, partnerships and delivery models.
About Symantec
Symantec is the world leader in providing solutions to help individuals
and enterprises assure the security, availability, and integrity of
their information. Headquartered in Cupertino, Calif., Symantec
has operations in 40 countries. More information is available
at www.symantec.com.
About VeriSign
VeriSign, Inc. (NASDAQ: VRSN), operates intelligent infrastructure services
that enable and protect billions of interactions every day across the
world’s voice and data networks. Additional news and information about
the company is available at www.verisign.com.
# # #
Statements in this announcement other than historical
data and information constitute forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These statements involve risks
and uncertainties that could cause VeriSign's actual results to differ
materially from those stated or implied by such forward-looking statements.
The potential risks and uncertainties include, among others, the uncertainty
of future revenue and profitability and potential fluctuations in quarterly
operating results due to such factors as the risk that VeriSign's announced
strategic relationships, including the relationship described herein,
may not result in additional products, services, customers, profits
or revenues; and increased competition and pricing pressures. More information
about potential factors that could affect the company's business and
financial results is included in VeriSign's filings with the Securities
and Exchange Commission, including in the company's Annual Report on
Form 10-K for the year ended December 31, 2005 and quarterly reports
on Form 10-Q. VeriSign undertakes no obligation to update any of the
forward-looking statements after the date of this press release.
NOTE TO EDITORS: If you would like additional information
on Symantec Corporation and its products, please visit the Symantec
News Room at http://www.symantec.com/news.
All prices noted are in U.S. dollars and are valid only in the United
States.
Symantec and the Symantec Logo are trademarks or registered
trademarks of Symantec Corporation or its affiliates in the U.S. and
other countries. Other names may be trademarks of their respective owners.
CONTACT:
Cecilia Daclan, Symantec Corporation. 310-449-4381, cecilia_daclan@symantec.com
Monisha Khanna, VeriSign, Inc. 650-426-4522, mkhanna@verisign.com
For VeriSign Investor Relations, please contact Tom McCallum, tmccallum@verisign.com,
650-426-3744.
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