Intel acquires PasswordBox
Next to Microsoft who purchased Acompli, Intel also announced a new corporate acquisition yesterday, namely PasswordBox. According to the official press release, this Canadian company and its cross-platform identity management service will join the Safe Identity organization within Intel Security Group. This organization "is committed to delivering solutions that reduce the pain of passwords, simplify and strengthen security, and provide consumers with easy access to their digital lives."
The press release contains some interesting information, for example the fact that over 90 percent of those passwords generated by users are vulnerable to hacking and the average user has 26 password-protected accounts, but only five different passwords. Intel's integration of PasswordBox technologies aims to deliver these three major advantages to consumers: reduced password fatigue, simplified security, and the ability to experience next-generation solutions.
"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," says Daniel Robichaud, PasswordBox CEO and co-founder. All the 48 employees joined Intel Security and the transaction is effective already, but no financial terms have been disclosed.