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.
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.
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.
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