Intel Acquires PasswordBox, an Award-Winning Digital Identity Manager
December 01 2014 - 6:00AM
Business Wire
Acquisition Adds Convenient and Secure
Digital Identity Solutions for Consumers to Intel Portfolio
Today, Intel announced the acquisition of PasswordBox®, a
Montreal-based and award-winning provider of a cross-platform
identity management service that gives users a convenient way to
log into all of their websites and applications from any device
without having to type or remember passwords. As a result of this
acquisition, PasswordBox will become a part of the Safe Identity
organization within Intel® Security Group. The Safe Identity
organization is committed to delivering solutions that reduce the
pain of passwords, simplify and strengthen security and providing
consumers with easy access to their digital lives.
Secure passwords are essential to protecting sensitive personal
data. According to a recent report by consulting firm Deloitte,
more than 90 percent of user-generated passwords are vulnerable to
hacking, citing that the 10,000 most common passwords could access
close to 98 percent of all accounts.1 Last year, Experian found
that the average user had 26 password-protected online accounts but
used only five different passwords.2 In fact, nearly 37 percent of
users have asked for assistance on their username or password for
at least one website per month. Together, Intel Security and
PasswordBox will work to eliminate these problems.
“Everyone can relate to password fatigue. The PasswordBox
service has already brought relief to millions of consumers who now
enjoy simple, instant login,” said Chris Young, senior vice
president and general manager of Intel Security Group. “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.”
Committed to Creating a Safe and Secure Digital World
Established by Intel Corporation in January 2014, Intel Security
combines the security expertise of McAfee, with the innovation,
performance, and trust of Intel. Intel Security is focused on
solving some of the largest challenges in digital security today.
These solutions will help provide users with peace of mind by
knowing they can access their content more simply. Intel Security
will incorporate PasswordBox’s current and future technologies to
deliver three benefits to consumers:
- Reduced Password Fatigue –
PasswordBox’s solution utilizes one of the most accurate form
fillers on the market, with patent-pending one-tap (on mobile
devices) and one-click (in browsers) login to simply and seamlessly
provide secure access from any consumer device. Intel Security will
continue to extend and expand these capabilities to provide
consumers a convenient way to access their favorite sites and
apps.
- Security Simplified – In an era
of catastrophic data breaches, consumers are expected to create
increasingly complex passwords that include capital letters,
numbers and symbols to protect their digital identities. Intel
Security will incorporate the simplicity of the PasswordBox
solution with new, user-friendly authentication technologies that
enable users to get the benefit of improved security in a manner
that is simple to set up and use.
- Experience Next Generation
Solutions – Intel Security has assembled world-class innovators
in hardware engineering, software and services, to build solutions
that address the most pressing security challenges. Combining the
power of Intel Security with PasswordBox’s expert team, Intel is
committed and well positioned to innovate and deliver new,
ground-breaking, next-generation solutions on a regular cadence to
meet the needs of consumers.
“PasswordBox has spent the last two years building a product
that people love, trust and use around the world every day,” said
Daniel Robichaud, CEO and co-founder of PasswordBox. “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.”
PasswordBox was a privately held company founded in 2012, with
44 employees and headquartered in Montreal, Quebec. All current
employees have joined Intel Security. Since its debut one year ago,
PasswordBox secured VC funding, led by OMERS Ventures, won best
mobile app at CES 2014, and has been downloaded 14 million times
worldwide. Intel’s acquisition of PasswordBox is effective
immediately. Terms of the transaction were not disclosed and are
not material to Intel’s operations. This acquisition is expected to
support future innovations that will be announced at a later
date.
1Source: Deloitte TMT Predictions 2013 midyear
checkpoint2Source: Janrain Survey
About Intel Security
With its Security Connected strategy, innovative approach to
hardware-enhanced security, and unique Global Threat Intelligence,
Intel Security is intensely focused on developing proactive, proven
security solutions and services that protect systems, networks, and
mobile devices for business and personal use around the world.
Intel Security combines the experience and expertise of McAfee with
the innovation and proven performance of Intel to make security an
essential ingredient in every architecture and on every computing
platform. Intel Security’s mission is to give everyone the
confidence to live and work safely and securely in the digital
world. www.intelsecurity.com.
About PasswordBox
Award-winning PasswordBox is the only digital life manager that
logs you in instantly to your favorite websites and apps without
having to type in, or even memorize, your passwords. Collaborate
with secure password sharing, for personal and business purposes.
Create encrypted notes while keeping track of credit cards,
passports and other sensitive personal data in your digital wallet,
and care for your digital legacy even after you're gone by passing
it on to someone you trust with Legacy Locker. We support all major
browsers and devices, so PasswordBox users can access their data
anytime and anywhere. For more info, please visit:
http://www.passwordbox.com.
Forward-Looking Statements
This document contains forward-looking statements based on
current expectations or beliefs, as well as a number of assumptions
about future events, and these statements are subject to factors
and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
The reader is cautioned not to put undue reliance on these
forward-looking statements, which are not a guarantee of future
performance and are subject to a number of uncertainties and other
factors, many of which are outside the control of McAfee or
Intel.
Intel SecurityKim Eichorn, 408-455-2172kim_eichorn@mcafee.comorZeno GroupMelinda Jenkins,
650-801-7957Melinda.jenkins@zenogroup.com
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