Intel Corporation (NASDAQ:INTC) bought PasswordBox, a cross-platform identity management service provider based in Montreal, Canada.
PasswordBox provides a convenient way for users to login to their websites and applications on different devices without the need to remember or type their passwords.
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Chris Young, senior vice president and general manager of Intel Security Group said, “Everyone can relate to password fatigue. The PasswordBox service has already brought relief to millions of consumers who now enjoy simple, instant login.”
According to Young, Intel Security and PasswordBox have the same goal of improving digital identity protection across all devices and platforms. He added, “We believe we have the technology, expertise and reach to bring simple, secure access to consumers worldwide.”
PasswordBox will become part of Intel’s Safe Identity unit
Intel Corporation (NASDAQ:INTC) said PasswordBox will become part of the Safe Identity unit within the Intel Security Group after the acquisition.
PaswordBox and Intel Security will work together to reduce the problems of fatigue related to passwords, simplify and strengthen security and provide consumers with easy access to their digital lives.
According to Intel Corporation (NASDAQ:INTC), PasswordBox’s solution is considered one the most accurate form fillers in the market with patent-pending one-tap (on mobile devices) on-click (on browsers) log-in to provide secure access from any devices. Intel Security will continue to expand and extend those capabilities.
Intel Security will integrate the simplicity of the PasswordBox solution with user-friendly authentication technologies to offer improved security. The group also organized world-class innovators in hardware engineering, software and services to develop solutions that would resolve the most pressing security challenges.
Intel Corporation (NASDAQ:INTC) emphasized that it is committed and well-positioned to innovate and deliver ground-breaking and next-generation solutions on a regular pace to meet the needs of consumers by combining the power of Intel Security and PasswordBox.
Daniel Robichaud, CEO and co-founder of PasswordBox said, “We share Intel Security’s vision of simple, secure access and identity protection across all platforms and devices. Together, we believe we can offer our customers world-class technology, expertise and support to bring such access anywhere – all backed by Intel.
PasswordBox won the best mobile app
PasswordBox is a privately-held company with 48 employees. The company obtained funding from venture capital firms led by OMERS Ventures. During the CES 2014, PasswordBox won the best mobile app.