Key Points:

• 1Password, a password management software company, has acquired Kolide, an endpoint security platform.
• This move expands 1Password’s security offerings beyond passwords, addressing the challenges of securing devices in a hybrid work environment.
• Kolide’s platform uses real-time device health checks to grant or block access to company applications, preventing unauthorized access attempts.
• The acquisition strengthens 1Password’s position in the growing endpoint security market
• This is 1Password’s third acquisition in recent years

Additional Details:

• Kolide boasts customers like Databricks, Robinhood, and Discord.
• This acquisition follows 1Password’s successful 2023, exceeding $250 million in annual recurring revenue and a multibillion-dollar valuation.
• 1Password plans to add 250 jobs this year

“1Password has focused on giving businesses the tools they need to make it easy for employees to keep their passwords secure,” Shiner added. “Kolide extends this ability further to make it easy for employees to keep their devices secure.