Creating, managing and protecting passwords has become too much of a hassle, so Intel has acquired the PasswordBox security company. Together with their new team, the IT giant hopes to come up with a reliable identity management service that can help their customers get rid of the so called "password fatigue".
Mostly known as a CPU manufacturer, Intel is an IT company based in Santa Clara, California. PasswordBox is a Canadian firm that created an online identity management service which is utilized by over 14 million users. Basically, this service allows its customers to store their credentials in an on-line safe and then helps them automatically log-in into a wide variety of websites. Now, PasswordBox will become a part of the Safe Identity department in Intel’s Security Group.
Details about the transaction are very scarce so we don't know the exact terms or the price. However, there are a few things that I can tell you. All the 44 employees working for PasswordBox are now under Intel's employment, so none of them have lost their jobs. Furthermore, the PasswordBox services will remain unchanged until Intel is ready to launch its new digital identity products on the market. Lastly, all the current customers of the Canadian company have received a free of cost upgrade to the premium versions of the subscription.
PasswordBox already offers its customers the possibility to easily share their passwords and accounts with friends or family members, the ability to create encrypted notes and the capability to keep track of credit cards or other sensitive information. So Intel is hoping to create a new identity management service that can successfully rival the biggest names on the market such as Lastpass or Dashlane.