BT snaps up Counterpane Security

BT has snapped up US internet security company Counterpane for a sum of more than $20m as part of a continuing commitment to the security offering and overall growth of its Global Services business.

Counterpane provides managed network security services.

The deal sees Counterpane's founder, CTO and highly regarded security guru Bruce Schneier join the BT payroll. Schneier will maintain his position as CTO within Counterpane.

Andy Green, CEO of BT Global Services, said the acquisition is a reaction to its customers demanding more security at the network level to protect "increasingly business critical applications".

And the deal has been a long time in the pipeline, according to Schneier. Posting on his blog, 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."

Around the time those discussions began Counterpane had audited assets of $6.8m. BT declined to disclose the value of the deal, however a spokesman said it was worth "tens of millions of dollars".