Virtualization Technology News and Information
McAfee Closes Acquisition of TunnelBear, Enhancing Its Advanced Cybersecurity Portfolio to Protect Consumers from Device to Cloud

McAfee, the device-to-cloud cybersecurity company, today announced the close of its acquisition of TunnelBear, a leading consumer VPN company, for an undisclosed amount.

As the risks of connecting to public Wi-Fi grow, people are becoming more aware of the security implications. Recent McAfee survey data revealed that 58% of respondents know how to check if a Wi-Fi network is safe to use, but less than half take the time to do so, and only 19% currently own a personal VPN solution. This highlights the need for a solution that addresses the wants of consumers and partners who understand that security must be built in from the start.

The acquisition of TunnelBear gives McAfee a world-class technology and business that strategically aligns with its vision of protecting what matters most to its customers, including online behavior, personal data and sensitive information. Combining TunnelBear's secure network with an intuitive interface will help keep customers' data secure on public Wi-Fi and web browsing private from advertisers with the ability to block intrusive ads.

"TunnelBear has built an engaging and profitable direct-to-consumer brand, and we're confident this acquisition will serve both our end users and partners by embedding its best-in-class, hardened network into our Safe Connect product," said Christopher Young, chief executive officer, McAfee. "This investment is strategic for McAfee's consumer business as it further showcases our commitment to help keep our customers' online data and browsing private and more secure at a time when the threat landscape is growing in volume, speed and complexity."

"McAfee's acquisition of TunnelBear is an exciting opportunity for our company. TunnelBear will continue to develop the products our customers have come to love, now with the backing and resources of a leading cybersecurity company," said Ryan Dochuk, co-founder, TunnelBear. "McAfee shares our passion to help everyone browse a more secure and private internet. The acquisition provides us with the resources to develop our service, expand into new regions, and continue leadership of privacy and security practices in the VPN industry."

The move comes a little over two months after McAfee, closed on its acquisition of Skyhigh Networks, further demonstrating its commitment to being one of the world's leading device to cloud cybersecurity companies.

Published Friday, March 09, 2018 7:29 AM by David Marshall
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