McAfee DAM in itself (ie. just the Database Activity Monitoring) is not a standalone licence - however McAfee Database Security suite (DCD) comes in two deployment "flavors":
1. Standalone (either deployed on a Windows or Linux OS)
2. ePO integrated
There is no need for ePO if you choose to go with the standalone deployment.
Below are some links to further information.
Install Guide 4.6.x (Standalone)
Product Guide 4.6.x (Standalone)
Hope this helps.