Tag: VeriSign

VeriSign Confirms Chinese Government Behind Google Attack

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Ars Technica is reporting that VeriSign’s iDefense lab has traced the attack on Google and over 30 other companies to the Chinese government. The cyber attack occurred late December and targeted Google and other companies in an attempt to extract information about political dissidents.

The iDefense report points to malicious code that was deployed in PDF files that were crafted to exploit a vulnerability in Adobe’s software. According to the report: “the source IPs and drop server of the attack correspond to a single foreign entity consisting either of agents of the Chinese state or proxies thereof.”
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Reminder: Get an additional level of security with free VeriSign app

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While the app has been in App World for some time now, I got a chance to sit down with the folks at Verisign at the BlackBerry Developer Conference, and they showed me their VIP Access app. If you haven’t seen it, it’s a free download that provides you with an additional layer of security for your online profiles.

Once you register your VIP Acccess app, you get a new One Time Password every 30 seconds, which is securely stored on your BlackBerry. If your username or password is hacked, you still have an additional layer of security.

So if you have an account with eBay, PayPal, AOL or GEICO, this is worth the free download.

Could RIM takeover of Certicom help profits?

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Certicom Corp., a security software development company, said they the board will fully approve the RIM $131-million all-cash bid. This news comes after VeriSign gave notice it would not raise its $92-million offer.

Lately, we’ve been hearing a lot about how RIM’s profits are down even though subscriptions are up. I’m not positive, but I think RIM licenses its security software from Certicom, and this takeover could help improve profit margins, even if just slightly. In any case, it’s nice to see cash flowing in an economy where cash is being sucked into a black hole somewhere on Wall Street.

VeriSign will not match RIM’s offer for Certicom

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RIM logoIt appears as though RIM’s persistence has paid off. Little more than a week after RIM doubled their offer for Certicom, the security software maker has received a notice from its other main suitor VeriSign that it will make no attempt to match RIM’s offer.

Certicom’s board of directors will be meeting today, and are expected to approve RIM’s C$131 million bid. For their troubles, VeriSign will receive a C$4 million termination fee if RIM’s takeover goes through. I’m still interested in learning if VeriSign ever seriously thought they would obtain Certicom, or saw the whole situation as a potential cash grab. Let’s hope there’s not another OSC investigation.

|via Reuters|

RIM likely to win in Certicom bidding war

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RIM logoYou have to hand it to RIM, when they see something they want, they really go after it. Earlier this week, RIM doubled their offer to security technology company Certicom, offering C$131.1 million or about 43% more than VeriSign’s bid. VeriSign has until Feb. 11 to submit an amended offer under its arrangement with Certicom, but analysts believe they are unlikely to prevail.

A counter-bid from VeriSign is unlikely, said Blackmont Capital analyst Lawrence Rhee, because RIM’s richer offer shows its commitment to acquire Certicom.

“They could notch it up higher, but I just think VeriSign thinks that RIM will come and outbid it again. So why go through that process,” Rhee said. “I think they’re both motivated to try and purchase this asset, it’s just I think RIM has proven that they want it more.”

Things won’t end too badly for VeriSign, as the company will receive a C$4 million termination fee if Certicom does not accept its bid. Hmm, sounds like a pretty nice chunk of change to help Certicom get a higher valuation out of RIM. However, it seems that acquiring Certicom is worth it for RIM regardless the cost.

“I wouldn’t say it’s all Certicom’s technology that explains the strength of the security around RIM. I think it’s a key component. I think what RIM wants is to be able to ensure continued development of ECC going forward. If its gets into a competitor’s hands … then maybe RIM would be worried,” Rhee said.

Hopefully this sordid affair will be over by February 11th, and we can avoid having it come to a duel-to-the-death between Jim Balsillie and VeriSign’s CEO.

|via Reuters|

Oh snap! VeriSign buys Certicom for C$92 million

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What a bad week for RIM. First, they’re forced to withdraw their hostile takeover bid of Certicom due to a Superior Court Order. Then, news breaks that RIM’s co-CEOs Mike Lazaridis and Jim Balsillie may be dinged for up to C$100 million for a backdating scandal (it looks like Balsillie may also have to step down from the Board of Directors). To close out the week, RIM has awoken today to learn that Internet security provider VeriSign has agreed to purchase Certicom for C$2.10 a share, roughly C$92 million total. VeriSign’s offer trumps RIM’s C$1.50 a share offer – I guess Certicom was serious when they said RIM had undervalued them.

Certicom board chairman Jeffrey Chisholm said “The special committee and the board conducted a thorough process on behalf of Certicom shareholders resulting in a significant increase in value for the company and its owners. We believe this transaction also represents a very promising opportunity for our customers and employees.”

Honestly, RIM, just go back to bed. Take a waiver on the day, have a fun weekend, and come back Monday pretending this week never happened. Thanks to my boy M-Dawg for the tip!

Read full Certicom Press Release