Report: Symantec nears deal with VeriSign

Symantec is finalizing a deal in which it will buy the security unit of VeriSign to the tune of about $1.3 billion, according to The Wall Street Journal.

If it goes through, the deal would give Symantec ownership of VeriSign's authentication business, the Journal's sources say.

The acquisition would further expand Symantec's reach into the encryption business. The news comes just a few weeks after the security giant announced it planned to buy PGP and GuardianEdge, two encryption companies, for $300 million and $70 million respectively.

For more on this story, read Report: Symantec closes in on VeriSign buy on CNET News.