Intel acquires PasswordBox for identity management

PasswordBox allows users to log in on apps and websites, without them having to remember a password

With the year winding down, I'm going to very soon start to write my 2014 trend pieces. And I already know what one of them will be: this is the year that we finally started to take cyber security seriously.

There were a huge number of deals in this space, most likely due to a rash of hackings and breaches that left companies scared and scarred. Even regular people started paying attention, even if that was only because they were suddenly afraid of being seen naked by millions of people. 

The latest deal in this space comes from Intel, which announced on Monday that it has purchased identity manager PasswordBox. No financial terms of the deal  were disclosed.

PasswordBox uses machine learning to allow users log on to a variety of apps and websites, without them having to remember, or even enter, their passwords. It also includes features that allow users to share passwords with co-workers or family, checkout from a digital wallet and digital legacy, which will pass on the user's password information in the event of their death. 

As per the acquisition, PasswordBox will become a part of the Safe Identity organization within Intel Security Group. Intel Security was created earlier this year, as the company attempted to become a bigger name in the security space, to make it easier and less confusing for users who want to sign up for their services and to distance themselves from the name McAfee, which it purchased back in 2011.

For Intel, the purchase strengthens its position in the security space.

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

PasswordBox, meanwhile, gets access to Intel's reach and resources.

"We share a common mission – to enrich the lives of our users, and make each user’s online experience as secure and seamless as possible," the company wrote in a blog post. "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."

While PasswordBox will become part of Intel, and all current employees have joined Intel Security, it will still remain as an independent company for the time being, and the two entityies "are working through the plans for all the exciting things we will do together." In addition,  Intel is giving away a free premium PasswordBox subscription until the release of a new product from Intel Security.

The Montreal-based PasswordBox was founded in 2012. The company had raised a $6 million Series A round of funding in November 2013 from OMERS Ventures, and angel investors, including Mark Britto and Lee Linden.

(Image source: blog.passwordbox.com)