Lookout, an endpoint security startup, has acquired SaferPass, a Slovakia-based password management startup, for an undisclosed amount.
Founded in 2014, SaferPass provides password management and online identity solutions to protect the privacy, login credentials, and other sensitive information of consumers and businesses. The solution provides users with a digital vault that enables them to encrypt and securely store their login information, which can be later used to access services through mobile apps and web browsers. The solution enables users to generate strong unique passwords through a password generator tool and autofill them. SaferPass prevents users from using the same password at multiple access points and automatically informs them to change their passwords by comparing them with databases of leaked passwords.
Lookout will incorporate SaferPass’ password management capabilities into its suite of security solutions to provide customers with advanced password monitoring and alerts on leaked user credentials on the dark web. It also updates the compromised password to protect the user’s account from risks such as identity theft. The acquisition will provide users with the ability to manage their devices, passwords, online privacy, identity, and financial information through a single solution and will also expand Lookout’s channel partnerships and footprint in Central Europe.
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