Google Inc. (Nasdaq: GOOG) has acquired Israeli start-up SlickLogin. No financial details have been disclosed but the acquisition is believed to be on an "acqui-hiring" basis, in other words buying the staff and know-how with possibly an additional very small acquisition fee.
The announcement came from the founders of the company - Or Zelig, Eran Galili and Ori Kabeli who set up SlickLogin last summer to simplify computer login security. The company has no customers and has not even yet developed a marketable product.
SlickLogin's founders said this morning, "We started SlickLogin because security measures had become overly complicated and annoying. Our friends thought we were insane, but we knew we could do better. So we set out to improve security while still making it simple for people to log in."
"Today we’re announcing that the SlickLogin team is joining Google, a company that shares our core beliefs that logging in should be easy instead of frustrating, and authentication should be effective without getting in the way. Google was the first company to offer 2-step verification to everyone, for free - and they're working on some great ideas that will make the internet safer for everyone. We couldn’t be more excited to join their efforts."
Published by Globes [online], Israel business news - www.globes-online.com - on February 16, 2014
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