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December 1, 2014

Intel Security acquires PasswordBox

Will be integrated into the Safe Identity organisation within Intel Security Group.

By Vinod

Intel Security has bought the identity management firm PasswordBox, in a bid to combat users’ ‘password fatigue‘.

The agreement to buy the firm is effective immediately, though terms of the transaction were not disclosed and no new products were announced.

Chris Young, senior vice president and general manager of Intel Security, said: "Everyone can relate to password fatigue. The PasswordBox service has already brought relief to millions of consumers who now enjoy simple, instant login.

"We believe we have the technology, expertise and reach to bring simple, secure access to consumers worldwide."

Quartered in Montreal, Canada, PasswordBox claims its software has been downloaded 14 million times since the company was founded in 2012.

It raised £3.8m in a round of venture capital funding last year, with contributions from angel investors Mark Britto, chief executive of mobile payments service BOKU and Lee Linden, head of Facebook eCommerce.

Daniel Robichaud, chief executive of PasswordBox, said his firm shared "Intel Security’s vision of simple, secure access and identity protection across all platforms and devices".

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