Lookout Acquires SaferPass for Expanded Identity Protection

Lookout is expanding its identity protection through its acquisition of SaferPass, a password management company.

SaferPass provides secure online identity solutions for both consumers and businesses. The deal complements and expands Lookout’s consumer and SMB offerings. In addition, it brings on board additional cloud infrastructure expertise and capabilities.

Lookout also plans to expand its footprint in Europe based on the acquired company’s headquarters.

By adding password management technology to its suite of security solutions, Lookout will deliver proactive protection and safeguard customer data for individuals and businesses.

The SaferPass solution provides an encrypted digital vault. It stores secure login information used to access services through mobile apps and web browsers.

The product helps create strong, unique passwords, the company said, through a password generator tool. That ensures the individual is not using the same password in multiple places and that their password has not been compromised in a previous breach.

Lookout isn’t saying how much it’s paying for SaferPass.

All-in-One Identity Protection Solution

Firas Azmeh is general manager of Lookout’s consumer and carrier business.

Lookout’s Firas Azmeh

“Our partners trust Lookout to provide best-in-class security and protection for their customers,” he said. “Today, none of our current or prospective partners (nor those of our competitors) offer a single, all-in-one solution that provides holistic protection to customers. The security products currently in the market all offer various cybersecurity features. But adding identity and password protection requires an additional product, which makes for friction and poor user experience. We believe our partners and their customers want complete solutions that simply work. They want full protection and remediation, not just notification and information. With this acquisition, we can deliver that integrated and seamless experience that provides differentiation to our partners and protection to their customers.”

With this acquisition, Lookout will take a “unique approach” to password management and identity protection, Azmeh said.

“Not only will Lookout offer customers the ability to generate stronger passwords and store them securely, but these new capabilities will be fully integrated into our other features, enabling customers to monitor and manage their device, passwords, online privacy, and critical identity and financial information all from a single product,” he said. “In addition, Lookout will provide advanced password monitoring, with alerts if user credentials are ever leaked on the dark web, and enabling a seamless update of a compromised password to shield their account from risks, including identity theft.”

Security Is a Differentiator

Lookout‘s partners have made “huge investments” in building fast, reliable networks and strong, trusted brands, AZmeh said.

“Customers have a relationship with their service providers and trust them to provide some degree of security with their connectivity,” he said. “Increasingly, our partners recognize that security is a differentiator. And those who provide the best security and the best user experience … will win in this highly competitive market.”

The acquisition also expands Lookout’s footprint in Central Europe through its new location in Bratislava, Slovakia. SaferPass will now operate under the Lookout brand and leadership. In addition, the SaferPass team will be fully integrated into the Lookout organization.