McAfee, Inc., a security technology company, is all set to expand their mobile platform portfolio through their acquisition of tenCube.
tenCube is the company behind the mobile security service, WaveSecure. Key features of WaveSecure include remotely locking your lost phone, tracking your lost phone (location, use, and even if a new SIM is inserted), auto-backup all of your mobile data, and remote wiping of all your data.
“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.”
WaveSecure was recently selected as the “Most Fundable Product” by over 40 top VCs in Silicon Valley and received a strategic investment of SGD1 million from India-based telecom application platform One 97 Communications.
tenCube was founded by National University of Singapore alumni Darius Cheung, Varun Chatterji and Rishi Israni. Their early investors include the Economic Development Board (EDB) and SPRING Singapore who supported them via the SEEDS and TECS fund respectively (see our list of regional government funding options for startups).
The acquisition is expected to close in August of 2010.
This is great news for the startup ecosystem in Singapore. Congratulations to Darius and his team.