A well known Antivirus company McAfee has acquired a popular virtual private network (VPN) provider TunnelBear. Specifics regarding the deal have not been disclosed.
VPN Provider TunnelBear has confirmed the acquisition. Till date, company has not taken outside funding which makes its valuation hard to guess. Moreover, it has managed to reap profits in the past, which makes the takeover more lucrative for McAfee.
The company is based in Toronto, Canada and was founded in 2011. It has also published VPN Industry’s first independent security audit and authored tens of thousands of Bear puns
TunnelBear’s cross-platform VPN app is being used by 22 million people. Not only that, company has also forayed in password management domain with its RememBear standalone app.
With this all of company’s team will continue to work on TunnelBear products and will stay at its Toronto headquarter.
TunnelBear commented –
For TunnelBear, we know that now is the right time to join forces with McAfee. Our mission has always been to help everyone browse a more private and open internet. Reaching 22M people is an amazing accomplishment, but there’s more than three billion people connected to the internet today and only a tiny percent of these people are using VPN and password managers to protect themselves online. McAfee has the reach to put our services in the hands of hundreds of millions of people and our team is excited to make it happen.