On November 3, 2022, 1Password, a leader in security and privacy solutions, acquired Passage, a developer-focused passwordless authentication company, to enhance its enterprise offerings. This acquisition, valued at $65 million, aimed to create a safer and simpler user experience across all platforms and devices. 1Password plans to integrate Passage's technology to develop a passwordless authentication platform for businesses, enabling the use of passkeys to replace traditional passwords. This move is expected to reduce the risk of phishing attacks and improve both user experience and business performance by eliminating the issues associated with forgotten passwords.

Jeff Shiner, CEO of 1Password, emphasized the company's commitment to simplifying digital experiences and aiding the transition to a passwordless future. Cole Hecht, CEO of Passage, highlighted the synergy between the two companies in striving for secure, user-friendly experiences.

The Passage team, including co-founders Cole Hecht and Anna Pobletts, will join 1Password to focus on developing passkey-first authentication solutions for consumer-facing businesses. These solutions will be available in beta by early 2023. The acquisition aligns with the broader industry trend toward adopting FIDO-based authentication standards, which aim to reduce password dependency and enhance online security.