BT buys into Bruce Schneier

Security guru's company snapped up by BT and key personnel stay on

BT has bought security monitoring firm Counterpane, which has security guru Bruce Schneier as chief technology officer.

Schneier, who has written the two seminal works on cryptography, helped found and it now overseas security for 550 networks worldwide for multinational and Fortune 100 customers. The exact terms of the deal haven't been announced but it is thought to have valued the company at 30-40 million.

"Counterpane is a welcome addition to BT's global professional services community," said Andy Green, chief executive of BT Global Services.

"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."

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The two founders, president Paul Stich and chief technical officer Schneier have both confirmed they are staying with the company as it is absorbed into BT. The acquisition will bring new skills and customers for BT's managed service offerings for business.

"This is an excellent opportunity for Counterpane's customers and employees," said Stich.

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