Intel acquires mobile identity management firm PasswordBox

Intel adds to security portfolio with Canadian digital identity company

Intel has acquired PasswordBox, a cross-platform, mobile device friendly digital identity manager in a deal that sees the Canadian firm become part of Intel's Security Group.

Founded in 2012, the Password Box application has been downloaded 14 million times and allows users to log into all of their different websites and applications without the need to type out or even remember the various different passwords.

The Montreal-based company, which has 48 employees, states that its application enables users to enjoy a streamlined service, which not only enables users to login into websites or make payments in a more efficient way, but also in a more secure manner.

PasswordBox is also available for use across a variety of operating systems, including Apple iOS for iPhone and iPad and Android for smartphones and tablets. The application is also compatible with Chrome, Firefox, Internet Explorer, Safari and Opera internet browsers.

"Everyone can relate to password fatigue," said Chris Young, senior vice president and general manager of Intel Security Group.

"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," he added.

Daniel Robichaud, CEO and co-founder of PasswordBox, also welcomed the deal with Intel Security.

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

"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," Robichaud added.

Under the terms of the acquisition, effective immediately, all PasswordBox employees have joined Intel. Financial terms of the deal have not been disclosed.

Intel has made a number of investments recently, covering a range of areas within IT, including big data analytics, the Internet of Things and cloud computing.

Intel has also invested $1.5bn in Chinese government-owned semiconductor producer Tsinghua Unigroup as the firm looks to expand its reach in Asian markets.