The acquisition, whose price is yet undisclosed, effectively hires all of PasswordBox’s 48 employees into the Intel Security Group, formerly McAfee, which was acquired by the chipmaker for $7.7 billion in 2011. As reported by Reuters:
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.
If you can’t see the video embedded above, please click here.
PasswordBox’s flagship app of the same name has been downloaded 14 million times since its launch in June 2013.
At this year’s Consumer Electronics Show (CES), held in January in Las Vegas, PasswordBox won the award for best mobile app.
In September, it was updated to version 5.0 for iOS 8 with new features including Touch ID integration and a Safari extension (shown in the video above).
For other recent acquisition news, see also: Fait accompli: Microsoft has apparently acquired the all-in-one email app Acompli, Yahoo acquires startup behind Cooliris photo app and BeamIt messaging app, and Apple said to have acquired Seattle-based cloud computing startup Union Bay Networks.