As industry after industry is rocked by data security breaches and cyber attacks, Intel is moving to shore up its digital security efforts. To that end, the California-based chipmaker has acquired the Canadian digital security company, PasswordBox.
PasswordBox is an “identity manager” that seeks to eliminate the hassle of separately logging into each browser, app, or device with a specific password. Instead, it uses a “1-Tap and 1-Click” login method to let people use any device to log into all passwords without typing. 14 million people have downloaded PasswordBox since its debut in 2012, the Wall Street Journal reports.
“We share a common mission [with Intel] – to enrich the lives of our users, and make each user’s online experience as secure and seamless as possible,” said the company in a blog post announcing the purchase. “Now, with the expertise, resources and support of Intel Security behind us, the possibilities of what we can build tomorrow – and how many people’s lives we can positively impact – are extraordinary.”
Both Intel and PasswordBox are staying silent about what future products consumers can expect from the collaboration. For now, though, PasswordBox will remain available in its current form, and existing customers will receive a free premium subscription to Intel Security until the release of a new product, whenever – and whatever – that may be.
According to the Wall Street Journal, neither company has disclosed the price of the deal. Last year, PasswordBox secured $6 million in Series A venture funding, Reuters reports.
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