Security is everything these days. It seems recently, every tech company has focused on security as much as they have with any other main feature of their products or services. Security in itself seems to be something companies now know they can sell and consumers will buy. As a result, recently we have started to see more acquisitions from tech companies of security tech companies. Intel are no different. This morning the chipset giant has announced that they have purchased the Canadian company, PasswordBox. If you haven’t heard of PasswordBox then that is fine. You have certainly heard of the product they offer (either from them or a similar company). In short, and as the name suggests PasswordBox focuses on your passwords. Specifically, identify management. In reality, this sounds a lot more complicated than it really is. What identity management really means – is storing all your passwords so you don’t have to remember them all. Or probably more importantly, worrying about inputting them on dodgy or suspicious websites.
So far, it is quite easy to see why Intel picked up the Canadian company. They are a relatively new company and were only founded back in 2012. However, since then, they have started to make a but of a name for themselves. They were recently awarded ‘best mobile app’ at CES and that app already been downloaded over 14 million times. You can check out their app by clicking here and heading over to the Play Store. In terms of the future, Intel states that PasswordBox will become part of its Safe Identity organisation. This is a faction within Intel’s Security Group. The concept of the integration is to utilise PasswordBox’s ability to multiple store passwords offering Intel’s users a more user-friendly and protected experience.
In terms of the acquisition, beyond the purchase not much else is know. The details of the sale remain undisclosed and as such we have little idea how much Intel paid for the Canadian company. That said, the sale constitutes an immediate takeover with all services and employees already part of Intel. So what do you think of this acquisition? Do you use any password management services? Do you intend to? Have you used Password Box before? Whatever your thoughts, leave a comment and let us know.