By purchasing PasswordBox, Intel wants to expand its internet security presence. It is a Montreal-based chipmaker that has always been a part of Intel. The financial conditions of the deal have not been disclosed yet but it is a great intention to enter the market of security tools. Thanks to PasswordBox, internet users can keep their passwords to different sites and applications which provide them with a chance to enter them without manually typing.
Due to this application, people can create strong passwords and they do not need to remember them. The company has turned to be really successful and about 14 million people have downloaded the mentioned application. The tendency to concentrate on security software appeared after Intel bought security company McAfee in 2011.
About a year ago Intel rebranded the company name to Intel Security. Thanks to McAfee, Intel managed to present new and advanced security software for servers, computers and clouds. PasswordBox will be available within the following few months and now the service is provided in the form of subscription for $12 per year.
Neither PasswordBox nor Intel has commented on the deal and further development of the situation. Hopefully PasswordBox users will not lose a chance to use the mentioned application. Buying another security company, Intel will have a chance to increase its presence in the market of security software.
PasswordBox users can only read the expression of gratitude from the PasswordBox team and now PasswordBox and Intel will have a chance to upgrade the software and will let people use more advanced software to make their daily lives easier.
Intel with the help of new software ideas will be able to turn from a successful chipmaker into a profitable security software developer. Differentiation in business spheres will let the company to attract more funds and to be able to produce a lot of other security software products.