According to a statement on BT's website, the telecommunications giant bought the small California based company as part of a "strategy to expand and develop its global professional services capabilities".
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 Schneier's blog the deal has been in progress 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."
Andy Green, CEO, BT Global Services, said the acquisition is a reaction to its customers increasingly 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 USD$6.8 million.
BT buys Counterpane Security
By Fiona Raisbeck on Oct 25, 2006 11:31AM