Intel has acquired Canada-based online identity management company PasswordBox in a bid to bring relief to ever increasing issue of password fatigue that affects millions of Internet users.
PasswordBox has developed a solution that not only stores users’ login credentials, but also provides automated login feature. Users can simply click on the sites they are visiting and want to login to and PasswordBox does the job for them. The tool has managed to garner over 14 million downloads since its creation.
PasswordBox was founded in 2012 in Montreal and employed 44 people before Intel acquisition. Post the acquisition, PasswordBox’s login system will be merged with Intel Security Group’s Safe Identity organization with all the employees joining Intel Security.
Intel intends to extend PasswordBox technology to mobile devices and browsers to provide a complete online identity management solution and compete with the likes of Lastpass and Dashlane, which offer similar services.
PasswordBox’s offering isn’t just limited to password storage. The company also provides a secure and easy way to share account passwords with family, friends or co-workers; allows them to create encrypted notes; and keep track of other personal data including credit cards, passports, and other sensitive personal data in a digital wallet.
PasswordBox also tread biometric authentication waters through its partnership with Bionym, which is known for their wristband that uses heartbeat to validate user logins. PasswordBox used this technology to replace its master password and also used it to provide 3-factor authentication.
“Everyone can relate to password fatigue. The PasswordBox service has already brought relief to millions of consumers who now enjoy simple, instant log-in,” said Chris Young, senior vice president and general manager of Intel Security.
“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.”
