Symantec has acquired PasswordBank, a Spain-based startup that provides multifactor authentication, user management and single sign-on services.
According to Spanish news site Expansion, the IT security giant has reportedly paid $25 million (€19 million) for the company.
Most of PasswordBank’s employees – it’s worth noting that there are less than 20 – have been retained. The company’s CEO, Roger Casals, has been named product manager.
The company was founded in 2008 and most of its profit from the last fiscal years was generated by its international customers.