BT acquires Counterpane

BT today announced that it has acquired managed security service provider Counterpane Internet Security, a privately held Silicon Valley company. BT didn’t immediately disclose the purchase price but published reports say the company spent at least $20 million to buy the company founded by U.S. security expert Bruce Schneier.

Counterpane will become part of BT’s global services effort, in which it is competing with the likes of AT&T, Verizon, Global Crossing and Orange.
“Counterpane is a welcome addition to BT's global professional services community,” said Andy Green, CEO of BT Global Services, in a prepared statement. “As more and more of our customers seek to exploit the opportunities of globalization, we are finding that increasingly business critical applications are dependent upon the resilience and security of their infrastructure.”

Schneier will remain with the company as CTO, as will Counterpane’s CEO, Paul Stich.

The acquisition will enable BT to expand its managed security service portfolio and to tap Schneier’s skills in developing future services.