(Adds details, background)
TORONTO Dec 1 (Reuters) – Intel Corp said on
Monday it has acquired PasswordBox, a Montreal-based identity
management service that gives users a convenient way to log into
websites and applications from any device without having to type
or remember passwords.
The purchase price for the privately held Canadian start-up
was not disclosed.
The Santa Clara, California-based chipmaker said PasswordBox
will become part of the Safe Identity organization within Intel
Security Group that is focused on simplifying and strengthening
security by delivering ideas that reduce the pain of having to
memorize dozens of passwords.
Earlier this year, Intel rebranded security software maker
McAfee Inc, which it acquired for about $7.7 billion in 2011, as
Intel Security Group.
PasswordBox, founded in 2012, has already been downloaded 14
million times and this year it won best mobile app at CES – a
huge annual consumer electronics tradeshow in Las Vegas.
The tech start-up last year secured $6 million in a Series A
venture funding round led by the OMERS Ventures.
Intel’s acquisition of PasswordBox is effective immediately
and all 48 employees of the start-up are now a part of the Intel
Security Group.
PasswordBox is the latest venture of Canadian entrepreneur
and former radio host Daniel Robichaud. Back in 2010 he sold his
earlier venture, a radio streaming service called StreamTheWorld
to Triton Digital Media.
(Reporting by Euan Rocha Editing by W Simon and Chizu Nomiyama)
Article source: http://www.politico.com/story/2014/11/barack-obama-ozone-113204.html
(Adds details, background)
TORONTO Dec 1 (Reuters) - Intel Corp said on
Monday it has acquired PasswordBox, a Montreal-based identity
management service that gives users a convenient way to log into
websites and applications from any device without having to type
or remember passwords.The...
tech, technology
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