Intel acquires digital security company PasswordBox

The chip manufacturing firm Intel has announced the acquisition of privately held company PasswordBox. Intel has acquired the company to beef up the security of the consumers and keep them safe from the increasing high profile breaches. Founded in 2012, PasswordBox allows people to use any device and login without typing the passwords. It became a hit and was downloaded by 14 million people and also received funding from OMERS Ventures.

After the acquisition PasswordBox will become a part of Intel Security Group’s Safe Identify organizations. Intel will incorporate PasswordBox’s form filling technology in its authentication technologies. However, the firm has not yet disclosed any details about the acquisition. Cyber security is becoming one of the major concerns for the businesses. The high profile attacks damage the systems severely and also steal the valuable information.