I've lost count of how many times we talk about 1Password here on the website. Without a doubt, the most important application that I have installed on my Mac / iPhone and that I could no longer live without. For those concerned with security, the app is highly recommended as it is able to manage your passwords in a very convenient way. Because Apple also seems to have identified value in the AgileBits app, as reported by BGR.
According to the website, Apple wants all of its more than 120,000 employees to use the security tool. According to their sources, after many months of planning, Apple implemented the 1Password internally not only for corporate employees but for everyone who also worked in retail (stores). The agreement also includes family plans, giving five members of each employee's family a free leave.
Imagine that a ?small? company like AgileBits would suddenly have another 120,000 people using your product? It is not easy, mainly for issues involving support. And Apple, as we know, quite strict in this regard. According to the BGR, for example, for the deal to leave, Apple demanded that the maximum support response time should be four hours, that the 1Password support pages be translated into all major international languages, among many other things. Because of this demand, AgileBits had to resort to a third party call management service that would assist with telephone support.
Always concerned about security, Apple apparently decided to use the standalone version of 1Password. At first, the company considered using the version that includes the synchronization service created by AgileBits itself (which uses Amazon AWS services), but ended up opting for the standalone version of the software that allows users to synchronize everything through iCloud, which makes it total sense.
As far as Apple is paying for the deal, no one knows at least for now. The fact that a 1Password family license costs $ 60 a year. Imagining a scenario in which Apple would have, say, 50% discount, it would be taking about $ 2.5 million a year. And because of the business, AgileBits paid bonuses of up to six digits for senior executives and other employees, however, they were not left out and also received a bonus.
The curious thing is that AgileBits annual revenue, at least according to the BGR, is around US $ 5-10 million. Paying $ 2.5 million a year (this taking into account this scenario with a 50% discount), wouldn't it be easier for Apple to just buy the company? Still according to the BGR, AgileBits would ?easily sell? for 2-3 times its annual revenue (that is, between $ 15-30 million, a exchanged for Ma).
O BGR raised the hypothesis that, in fact, this annual transaction from Apple could be a structured acquisition in order to provide additional annual revenue for a certain number of years which in my view does not make much sense. And AgileBits itself denied the news related to a possible acquisition:
Rumors of my acquisition are completely false. My humans and I are happily independent and plan to remain so.
– 1Password (@ 1Password) July 10, 2018
The rumors of my acquisition are completely false. My humans and I are happy independents and we plan to stay that way.
Without a doubt, more information about the partnership will emerge over time. But the fact is: if Apple thought it was important for all of its employees to use such a security tool, you should also think about it. ?