Security provider Lookout is acquiring SaferPass. SaferPass develops a password manager that tracks and encrypts passwords. The technology will be integrated into Lookout’s portfolio.
Lookout develops software for endpoint security, Secure Access Service Edge (SASE) and Zero Trust Network Access (ZTNA). The endpoint security solution secures mobile devices. The SASE and ZTNA solutions secure cloud apps and network traffic.
All products overlap. Vulnerabilities are uncovered, misconfigurations come to light and suspicious traffic is intercepted. Endpoint security focuses on endpoints, ZTNA focuses on cloud networks, but the foundation is the same. That’s why some technologies are interesting for each product. Password management is an example.
SaferPass develops a tool for tracking, encrypting and filling in passwords. The passwords of users are automatically compared to databases of leaked passwords. If SaferPass finds a match, the user is informed, which allows the password to be changed in time.
Lookout doesn’t have a comparable solution. There’s a gap to be filled, because most data leaks are caused by stolen login data (Verizon Data Breach Report 2022). If an administrator’s password is leaked, most security solutions become redundant. That’s why Lookout is acquiring SaferPass.
SaferPass in Lookout
One of the features of SaferPass makes it possible to encrypt and store passwords in a digital safe. Attackers have no access. If the password does end up on the streets, encryption ensures that no one has a use for it.
“Today, every password owned by an employee is a potential access point to organizations both small and large”, said Lookout CEO Jim Dolce in a statement. “At the same time, large scale data breaches have leaked billions of consumer emails and passwords on the dark web, putting individuals at risk of identity theft and financial fraud.”
Lookout will incorporate SaferPass’ technology into its offering. SaferPass is not expected to appear as a standalone solution, but rather as a feature for existing products.