San Antonio Tech Start-Up Makes Huge Acquisition

A major move by one of San Antonio's leading tech companies, as local start-up Jungle Disk has acquired Baltimore-based TeamPassword, and the combined company will be headquartered in San Antonio, News Radio 1200 WOAI reports.

Both companies are engaged in computer and software security programs geared toward small business users, and TeamPassword CEO Brian Sierakowski told News Radio 1200 WOAI in an interview that's what he found to be the most attractive part of the merger.

"Its very helpful to have companies like the now joined together TeamPassword and Jungle Disk that a small business owner can go to and get a bunch of items knocked off their 'to do' list all at once," he said.

TeamPassword generates secure unique passwords and share access to applications and services enabling users to be more productive during work collaboration.

"We have noticed that there are an average of 147 different passwords that companies have to manage," Sierakowski said.  "Our program asks you to remember just one thing, and that can give you access to all of the secure tools that you need to do your job."

He says TeamPassword also includes programs that allow small businesses to instantly delist employees who leave or are fired to avoid internal security breaches, which have become a huge headache for small businesses.

A recent Verizon Data Breach Investigations report finds that 81 percent of hacking-related breaches take place because of stolen or weak passwords. As businesses move to using more cloud-based services, the number of accounts and passwords each person needs to maintain is continuing to increase over time. Securely managing and sharing all of your business’s internal and client passwords for different websites, accounts and marketing tools can drive complexity and impact productivity without an easy-to-use password management service like TeamPassword

.“Given the high percentage of data breaches being caused by stolen or weak passwords, password management is critical to a business’s data security plan and eliminating potential cybersecurity risks,” said Bret Piatt, CEO at Jungle Disk. “With the acquisition of TeamPassword, we are pleased to offer our customers a simple password manager to ensure they are filling in this critical component to data security while also offering additional productivity and collaboration benefits. Jungle Disk’s mission is to partner with small businesses to ensure that they have the proper data protection technologies and best practices in place to ensure that they do not fall victim to a cyberattack or accident.”

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