McAfee will continue to examine acquisition opportunities that provide greater breadth or competitive differentiation as the company transitions into being a pure-play consumer cybersecurity vendor.
The San Jose, Calif.-based company said its $25 million purchase of consumer VPN provider TunnelBear in February 2018 has served McAfee really well, according to President and CEO Peter Leav. The company will free up $4 billion from the sale of its enterprise business to private equity firm Symphony Technology Group (STG), which was announced March 8 and is expected to close by the end of 2021.
“The market is arguably a bit frothy, but we will over time continue to look at those opportunities,” Leav (pictured above) told Wall Street analysts Tuesday. “We’ll continue to look at things that potentially broaden and also create an opportunity for us to bring more differentiation to the market.”