Deals
McAfee acquires Canadian VPN outfit TunnelBear
SECURITY GIANT McAfee has acquired Canadian VPN service TunnelBear for an undisclosed amount.
McAfee will integrate TunnelBear's "world-class" technology into its own Safe Connect VPN service, the company said, allowing its customers to hide their identity from both malicious parties and advertisers that could use their details to serve up intrusive adverts.
According to McAfee's own data, 58 per cent of web users know how to check if a WiFi network is safe but only 19 per cent are currently making us of 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," McAfee said.
Commenting on the firm's latest acquisition, Christopher Yong, CEO at McAfee, said: "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.
"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."
TunnelBear said it will continue to develop its VPN products, used by a claimed 20 million customers, under its own brand name.
"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 of 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 firm hasn't said, however, whether its free service will continue to operate. McAfee's Safe Connect VPN service offers a free seven-day trial, but after that, there's a subscription fee £7.99 per month of £47.88 per year.
Customers should also expect a chance to TunnelBear's terms and conditions, TechCrunch notes. While the Canadian firm currently offers a clear privacy policy, explaining what data it collects and why, but once the McAfee buyout is complete it will be required to abide by US laws.
Source: https://www.theinquirer.net
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