Intel Corp acquires San Francisco-based startup PasswordBox

Intel Corp has announced it has acquired San Francisco-based startup PasswordBox, a service that saves and remembers passwords so that users can log into different websites without having to remember or type in their passwords.

Since its launch in June 2013, PasswordBox has introduced services like Legacy Locker, secure password sharing, and 1-Tap Login for mobile phones.

Besides managing passwords, PasswordBox can also store and encrypt credit card information for quicker checkouts when shopping online.

“We share a common mission—to enrich the lives of our users, and make each user’s online experience as secure and seamless as possible,” PasswordBox said in a blog post.

The startup last year secured $6 million in a Series A venture funding round led by OMERS Ventures, according to Reuters. All 48 employees will join the Intel Security team.

“The PasswordBox team is extraordinarily talented. They share our vision of simple, secure access and identity protection across platforms and devices,” an Intel spokeswoman said in an email to PCMag. “Together, we believe we have the technology, expertise and reach to bring simple, secure access to consumers worldwide.”

Few details about the new partnership have been revealed, though the companies are “working through the plans for all the exciting things we will do together,” the blog said. Terms of the deal were not disclosed, either.

“PasswordBox now has incredible resources to build an even better, new product, backed by one of the most innovative technology companies on the planet,” Intel said.

For now, PasswordBox accounts will remain available. Plus, Intel is offering all new and existing customers a premium subscription at no cost until the release of a new product from Intel Security.

“Think of this as a thank you for your support while we look to the exciting next chapter,” according to PasswordBox, which encouraged users to follow Intel Security on Twitter, Facebook, and Google+ for upcoming announcements. “Now, with the expertise, resources and support of Intel Security behind us, the possibilities of what we can build tomorrow—and how many people’s lives we can positively impact—are extraordinary.”

Intel said PasswordBox has been downloaded 14 million times since its debut a year ago. The company will be a part of Intel’s security software business, which includes McAfee.

All of PasswordBox’s 44 employees, based in Montreal, have joined Intel.

Earlier this year, Intel rebranded McAfee products as Intel Security. That transition came less than four years after Intel acquired the security software maker for $7.68 billion.

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