McAfee, Inc. to Acquire tenCube; To Deliver Next Generation Mobility Platform
July 29 2010 - 4:05PM
Business Wire
McAfee, Inc. (NYSE: MFE) today announced that it has entered
into a definitive agreement to acquire privately owned tenCube, the
provider of the WaveSecure mobile security service. Adding
WaveSecure’s locate, lock, back-up and wipe technology to Trust
Digital’s enterprise mobility management and McAfee’s mobile
security technology, gives McAfee the capabilities it needs to
deliver the industry’s most complete next generation mobility
platform. McAfee will now have a single platform, from the consumer
to the enterprise, to address the management and security of all
devices types, to all markets and with the most robust feature
set.
People today are 15 times more likely to lose their phones than
their laptop. Device loss is currently the most worrisome and
likely security incident that consumer mobile users face today.
Losing the device means losing personal data like pictures,
contacts and personal financial information. It also means losing
the ability to communicate and the value of the device. Through
this acquisition, McAfee plans to offer users of all sizes the
broadest platform available and the easiest and most flexible way
to remotely control their mobile device. The acquisition is
expected to help McAfee:
- Further establish itself as the
leader in mobile security with the most complete set of mobile
technologies—McAfee now has the technology needed for users and
their families to locate, lock, encrypt, protect against malware,
wipe, filter, manage, back-up, restore and access their data
online
- Leverage its expertise at the
endpoint and in the cloud to broaden its existing mobile security
portfolio beyond anti-malware, data protection, Web security and
family protection
- Expand the addressable device
market with best-in-market mobile device platform support,
including a wide range of mobile operating systems including
Android, Blackberry, Symbian, Windows Mobile, iPhone and Java
powered feature phones
- Combine the skills and resources
of both companies to develop and deliver scalable solutions through
global partnerships with mobile service providers and mobile device
manufacturers
- Expand the breadth of its device
management solutions available for enterprise IT administrators to
implement policies, assist users and enforce compliance for mobile
applications across the enterprise
According to Ericsson, there will be 50 billion IP connected
devices in 2020, up from 1 billion today. With the proliferation of
these devices comes the need to secure and manage them—whether it’s
the value of the device itself, protection from theft and data
loss, or meeting compliance requirements set forth by the user’s
employer.
“There has been a tremendous amount of innovation in the past
year with smartphones and other mobile devices, which really puts
McAfee at a tipping point,” said Todd Gebhart, executive vice
president of consumer, mobile and small business. “With our more
than 20 years of expertise in securing the endpoint, nearly a
decade of experience securing mobile devices and a vast partner
ecosystem, we are well positioned to out innovate and deliver the
broadest mobile platform available.”
“Mobile devices have become an extension of our lives,” said
Darius Cheung, chief executive officer, tenCube. “Through this
acquisition, McAfee can broaden its security capabilities and offer
users protection and remote control of the phone whether it is in
their possession or not. This means no more worries about the
whereabouts of your phone or losing personal contacts, photos or
messages.”
The WaveSecure security service for consumers allows users to
remotely control their devices, manage the data on their phones,
ensure privacy in the event of device theft or loss and enhance the
possibility of recovering the phone. McAfee also plans to offer a
child locator service, using the unique technology from
WaveSecure.
If a phone is lost, the WaveSecure service lets users remotely
locate the phone and pinpoint its location. If the phone's been
stolen, they can remotely lock it and/or wipe all of the personal
data from the device and its external memory cards. The phone will
automatically go into lock-down mode if it is used with an
un-authorized wireless account and inform a user’s emergency
contact of its location. WaveSecure locked phones show a permanent
message on the screen explaining how to return the phone to its
owner. The application also lets users automatically back-up and
restore all of the data stored on their phone including text
messages and their address book.
The WaveSecure mobile service is provided by tenCube, which is
primarily located in Singapore. Its mobile technology is currently
available in English, Chinese and Indonesian. Following the
completion of this proposed acquisition; McAfee expects to broaden
language support and couple the service with McAfee’s endpoint
protection and cloud capabilities.
The acquisition is expected to close in August of 2010. For
additional information, please reference the acquisition landing
page at www.mcafee.com
About McAfee, Inc.
McAfee, Inc., headquartered in Santa Clara, California, is the
world's largest dedicated security technology company. McAfee is
committed to relentlessly tackling the world's toughest security
challenges. The company delivers proactive and proven solutions and
services that help secure systems and networks around the world,
allowing users to safely connect to the Internet, browse and shop
the web more securely. Backed by an award-winning research team,
McAfee creates innovative products that empower home users,
businesses, the public sector and service providers by enabling
them to prove compliance with regulations, protect data, prevent
disruptions, identify vulnerabilities, and continuously monitor and
improve their security. http://www.mcafee.com.
Forward-Looking Statements:
This release contains forward-looking statements, which include
those regarding future plans that McAfee has for WaveSecure’s
business, McAfee’s expectations regarding the combination of
WaveSecure’s products and services with McAfee’s products and
services, the expected closing date of the acquisition, McAfee’s
expectations as to the opportunities resulting from the acquisition
of WaveSecure’s business and McAfee’s plans for the integration of
WaveSecure’s products and business. Factors that could cause the
actual results or outcomes from the acquisition to be materially
different from those anticipated include, among others, the
inability to complete the acquisition on acceptable terms, or at
all; the inability to integrate successfully WaveSecure within
McAfee or to realize synergies from such integration; costs related
to the acquisition of WaveSecure; the customer response to, and
acceptance of, the combination of WaveSecure's products with
McAfee’s products; and the economic environment of the industries
in which McAfee and WaveSecure operate. In addition, actual results
are subject to other risks and uncertainties that relate more
broadly to McAfee’s overall business, including those more fully
described in McAfee filings with the SEC, including its quarterly
report on Form 10-Q for the quarter ended March 31, 2010 and annual
report on Form 10-K for the year ended December 31, 2009. The
forward-looking statements contained in this press release are
based on information available to McAfee as of the date hereof, and
McAfee expressly disclaims any obligation to update any
forward-looking statements.
NOTE: McAfee and any additional McAfee marks herein are
registered trademarks of McAfee, Inc. and/or its affiliates in the
U.S. and/or other countries. McAfee Red in connection with security
is distinctive of McAfee brand products. All other registered and
unregistered trademarks herein are the sole property of their
respective owners. Product specifications subject to change at any
time without prior notice. © 2010 McAfee, Inc. All rights
reserved.
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