BT buys Counterpane Security

News by Fiona Raisbeck

BT announced today that it has acquired the US security company Counterpane.

BT announced today that it has acquired the US security company Counterpane.

According to a statement on BT's website, the telecommunications giant bought the small California based company for about $40 million (£21 million) as part of a "strategy to expand and develop its global professional services capabilities", to large and small businesses and the public sector.

Counterpane provides managed network security services and the deal sees its founder Bruce Schneier continue in his role as CTO.

According to a posting on his blog the deal has been in the pipeline for a long time, he said: "This is something I've been working on for about a year and I'm thrilled that it has finally come to pass."

BT believes the deal will attract more customers by offering additional services including security. Furthermore, the company hopes to build up a bigger presence in the US through the acquisition, which supplied them with several high-profile customers there.

Andy Green, CEO, BT Global Services, said the deal is a reaction to its customers demanding more infrastructure security to protect "increasingly business critical applications."

Paul Stich, president and CEO, Counterpane, said: "It's great to see that BT is listening to its customers and acquiring the skills and capabilities in order to fully service their requirements. Together BT and Counterpane can deliver the holistic approach needed to face today's security threats, encompassing people, processes and technology."

Around the time talks between the two organisations began the audited assets of Counterpane were $6.8 million (£3.6 million).

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