The UK's BT Group has bought US-based Counterpane Internet Security, the managed security company founded by security and cryptography expert Bruce Schneier.
While the companies did not disclose the purchase amount, several international media outlets have put the figure at over $20 million.
Counterpane conducts managed monitoring services for over 100 Fortune 500 and global companies worldwide.
Paul Stich, president and CEO, Counterpane, says: "This is an excellent opportunity for Counterpane's customers and employees. It is 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."
Andy Green, CEO of BT Global Services, says: "Counterpane is a welcome addition to BT's global professional services community. As more and more of our customers seek to exploit the opportunities of globalisation, we are finding that increasingly business-critical applications are dependent upon the resilience and security of their infrastructure."
Stich will keep his role as CEO of Counterpane and Schneier also stays on in his role as CTO.
Schneier is a well-known figure in the security industry, with eight books (including the now industry-standard Applied Cryptography) and two original cryptographic algorithms to his credit. He was awarded the Doctor Dobbs Journal annual Excellence in Programming Award this year and edits a monthly security newsletter, CryptoGram.
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