On Monday of this week, a recent deal was announced
regarding Intel acquiring a cross-platform identity management service, based
out of Montreal, called PasswordBox. The recent
acquisition means the firm will be merged with the Intel Security Group
portfolio. Intel has said this acquisition of PasswordBox will
encourage the company’s Safe Identity organisation talent pool and solutions.
Any terms of the transaction have not yet been disclosed.
PasswordBox develops identity management solutions,
which will allow a user to log in to a numerous websites and applications from
any device they choose, without needing to retype or remember any passwords.
the service works instead by a one-tap app enabled login to simplify the
account security processes.
There will be new benefits to consumers that will be
made possible by this deal, says Intel, including reduced password fatigue. The
company also claims that security will be simplified, as PasswordBox’s
technology will be incorporated with ‘new, user-friendly authentication
technologies that enable users to get the benefit of improved security in a
manner that is simple to set up and use.’
Senior vice president and general manager of Intel
Security Group, Chris Young, said,
‘Everyone can relate to password fatigue. The
PasswordBox service has already brought relief to millions of consumers who now
enjoy simple, instant login. Intel Security and PasswordBox share the same goal
of improving digital identity protection across all devices and platforms. We
believe we have the technology, expertise and reach to bring simple, secure
access to consumers worldwide.’
The 44 employees from PasswordBox have all migrated
to Intel Security, so there have been no
reported job losses in the deal.
PasswordBox debuted a year back and has secured venture
capital funding, won best mobile app of the year award at CES 2014, and at the
last check, has been downloaded over 14 million times globally.
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