NEW YORK ( TheStreet ) -- Intel ( INTC ) shares are down 0.55% to $37.04 in trading on Monday after the international integrated digital technology company announced that it purchased privately held PasswordBox for an undisclosed amount today. The move is designed to bolster the company's digital security apparatus in light of multiple high profile data breaches in both the private and public sectors, according to the Wall Street Journal. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. The company, which will become part of Intel's Intel Security branch, allows users to store log-in credentials while also allowing them to create secure passwords without having to remember them. Montreal, Canada-based PasswordBox was launched in 2013. TheStreet Ratings team rates INTEL CORP as a Buy with a ratings score of A-.