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Confirming a story in The Wall Street Journal yesterday, Symantec (SYMC) said after the bell this afternoon that it will purchase the "Authentication Services" business of Verisign (VRSN) for $1.28 billion in cash, acquiring products that secure encrypted Web browser sessions and authenticate users of email programs, among other things.

The unit brought in $102 million in revenue for VeriSign in the most recent quarter, roughly 40% of total sales, the company said.