McAfee acquires VPN service provider TunnelBear

McAfee, the cybersecurity company has acquired the services of Canada-based TunnelBear, a VPN provider for an undisclosed amount. As a part of the acquisition, TunnelBear's team will keep working on TunelBear's products under its own label.

Christopher Young, chief executive officer, 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.”

Ryan Dochuk, co-founder of TunnelBear, said, "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. 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.”

TunnelBear, founded in 2011 is a cross-platform VPN app that uses quirky bear-burrowing animations to bring online privacy to the masses. The company provides access to restricted websites by paying a fee of $4.44 to $9.99 per month.