Intel has acquired password and identity management firm PasswordBox but no transaction details have been revealed.
PasswordBox, which is based in Montreal, will become part of Intel Security Group. “Everyone can relate to password fatigue,” said Chris Young, senior vice president and general manager of Intel Security Group in a statement.
“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,” he said.
PasswordBox was founded in 2012 and employs 48 people. Its chief competitors in the field are the likes of Dashlane and Password1.
“PasswordBox has spent the last two years building a product that people love, trust and use around the world every day,” said the company’s CEO Daniel Robichaud, CEO. “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.”