Schneier's Counterpane sold to BT communications
- 26 October, 2006 08:23
Internet security company Counterpane has been sold to communications provider BT for an undisclosed sum.
Bruce Schneier, Counterpane founder will continue in his role as CTO. Paul Stitch will remain as CEO.
In a post on his blog yesterday, Schneier said he has been working on the acquisition for the past year, and is thrilled "it has finally come to pass".
Paul Stitch, Counterpane president said it is an excellent opportunity for Counterpane customers and employees, adding together the combined company will "deliver the holistic approach needed to face today's security threats, encompassing people, processes and technology.
"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," Stitch said in a BT media statement.
Counterpane will be used to prop up a managed security service offering from BT.
Richard Moss, head of the BT managed security practice for the Asian region said the two companies will be run in tandem to cross sell certain services until fully integrated. There is no official timeline for when the two companies will be merged.
Moss said the merger will allow BT to move from being a telecommunications provider to a networked IT services provider.
"Counterpane is a very strong evangelist in this space and this will enhance the BT managed services proposition by allowing us to monitor any devices in the network," Moss said.
He said the goal is to present a single, cohesive BT to customers so a reasonable amount of time is needed for integration.
"I cannot comment at this stage but 12-18 months sounds too for integration; Counterpane has a very strong security portfolio and the first step is to use a cross sell model to open Counterpane to the BT global channel."
Ross was unable to disclose financial details of the deal or confirm if Counterpane staff will be transitioned to BT.