McAfee has acquired Toronto-based VPN company TunnelBear. Terms of the deal weren’t disclosed.
McAfee says that the acquisition allows it to add to its privacy tools for customers. In a release, the company said that combining TunnelBear’s secure network with an intuitive interface helps 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, CEO of 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.”
According to a McAfee survey, 58 percent 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.
“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 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.”