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Intel further enhances security business, buys ID management service, PasswordBox

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Intel has quite been in the news today. After partnering with Google for its Glass’ electronic brains, Intel today announced the acquisition of PasswordBox, makers of digital identity management software thus further expanding its area of services.

PasswordBox is a Montreal-based identity management service that gives users a convenient way to log into websites and applications from any device without having to type or remember passwords. Following this acquisition, PasswordBox will become a part of the Safe Identity organization within Intel Security Group, said the Santa Clara, California-based chipmaker in a statement.

Daniel Robichaud, CEO and co-founder of PasswordBox said in a statement

PasswordBox has spent the last two years building a product that people love, trust and use around the world every day. 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.

Formed in January 2014, Intel Security combines the security expertise of McAfee, with the innovation, performance, and trust of Intel. The latest PasswordBox acquisition intends to boost Intel’s security business and rather rise above the tag of a chip manufacturer.

Chris Young, Senior VP and General Manager of Intel Security Group stated-

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.

Terms of the transaction were not disclosed and are immaterial to Intel’s operations. This acquisition is expected to support future innovations that will be announced at a later date. Intel Security and PasswordBox are officially announcing the acquisition today at Notman House in Montreal. The company will see all 48 employees of PasswordBox joining Intel. PasswordBox has had over 14 Million downloads of its ID management software

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