Intel acquires digital identity manager PasswordBox
Intel acquired PasswordBox, a provider of a cross-platform identity management service that gives users a way to log into all of their websites and applications from any device without having to type or remember passwords.
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 provide 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. Last year, Experian found that the average user had 26 password-protected online accounts but used only five different passwords. 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,” said Chris Young, senior vice president and general manager of Intel Security Group. “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. We believe we have the technology, expertise and reach to bring simple, secure access to consumers worldwide.”
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.”