John McAfee, who sold his anti-virus company to Intel for $7.6 billion, is back in the Internet security space by becoming the chairman and chief executive officer of MGT Capital Investments (MGT).
MGT will also be purchasing D-Vasive, a provider of anti-spy software for protecting from the proliferation of apps by consumer products companies, social networks, financial institutions and others.
Terms of the deal include the payment to D-Vasive Inc. stockholders of 23.8 million restricted shares of MGT stock and $300,000 in cash.
The D-Vasive technology allows the user to manage and control the device’s internal hardware. D-Vasive will be available shortly for Android and Windows platforms, followed by a release for Apple iOS.
“The impact of cybersecurity on our lives requires the scale and resources of a public company. Our ability to continue to hire the best minds in the business will be vastly enhanced with a public platform,” said McAfee.
MGT Capital will change its name to John McAfee Global Technologies, Inc.
MGT has entered into a consulting agreement with Future Tense Secure Systems Inc., a technology incubator with investments in other applications requiring privacy, such as file sharing and chat.