Google claims Symantec has done a poor job of using standard tools, called certificates, that check the identity of thousands of websites.

It will change its Chrome browser to stop recognising some Symantec certificates, causing problems for people who visit sites using them.

Symantec said Google’s claims were “exaggerated” and “irresponsible”.

The row concerns identity checks known as “security certificates”, which underlie the HTTPS system that ensures data is encrypted as it travels to and from a website.

Symantec is one of the biggest issuers of basic security certificates as well as their extended versions, which are supposed to give users more confidence in the security of a site.

‘Strong objection’

Google alleges that Symantec has not done enough to ensure that these basic and extended certificates are being issued correctly. It claims to have evidence that over the past few years 30,000 certificates are suspect.

In a bid to tackle the problem, Google said it would change the way many versions of Chrome display information derived from Symantec certificates. This could mean many users get warnings that sites are insecure or are blocked from visiting them.

In response, Symantec said it “strongly objected” to the way Google had acted, saying its decision was “unexpected”.

Its statement added that Google’s statements about the way it issues certificates was “exaggerated and misleading”. It threw doubt on the claim that 30,000 certificates had been issued incorrectly and said only 127 had been identified as wrongly issued.

Symantec said it had taken “extensive remediation measures” to improve the way it issued certificates and noted that many other certificate issuers had not gone as far.

It queried why it had been “singled out” by Google when other certificate issuers were also at fault.

“We are open to discussing the matter with Google in an effort to resolve the situation in the shared interests of our joint customers and partners,” it concluded.

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Source: BBC

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Symantec’s security software often comes bundled with personal computers. As a result, the company has suffered as consumers use mobile devices more than traditional computers. While Norton remains profitable, its sales have been falling.

“(Norton) had been declining with the declines in PC market share. This acquisition brings $660 million in revenue to the consumer business and returns it to longer sustainable growth,” Symantec Chief Executive Greg Clark said in an interview.

Reuters was first to report earlier on Sunday that Symantec was in the lead to acquire LifeLock.

Symantec’s purchase of LifeLock is in line with its efforts to diversify its offerings. In August, it bought Blue Coat Inc, which helps firms maintain security over the internet, in a $4.65 billion deal. Clark previously held the top job at Blue Coat, and made the switch after the deal closed.

Based in Tempe, Arizona, LifeLock offers services such as monitoring new account openings and credit-related applications in order to alert consumers about unauthorized use of their identity. It also works with government agencies, merchants and creditors to remediate the impact of identity theft.

Fran Rosch, executive vice president of Norton Business Unit, said that Symantec had dabbled in identity security but had nowhere near Lifelock’s 4.4 million members.

“We had to extend our value proposition. It was a no brainer for us to get back to growth,” Rosch said.

Symantec expects to finance the transaction with cash on balance sheet and $750 million of new debt.

The Mountain View, California-based company has been moving away from what is sees as more commoditized services, selling its data storage business Veritas in January to private equity firm Carlyle Group LP <CG.O> for $7.4 billion. Technology-focused firm Silver Lake Partners has also made a $1 billion investment in the company in two parts this year.

Symantec said the LifeLock deal is not expected to have a material impact on its financial results next year, and reaffirmed its fiscal year 2017 and 2018 guidance. The deal also represents a victory for activist hedge fund Elliott Management Corp, which had pushed LifeLock to explore its options.

Symantec was advised by Citigroup and JP Morgan, along with Bank of America, Barclays Plc , and Wells Fargo. LifeLock was advised by Goldman Sachs.

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Source: Venture Beat

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