BT announced that it has acquired Counterpane Internet Security Inc. ("Counterpane"), a leading provider of managed networked security services, as part of its strategy to expand and develop its global professional services capabilities.
Counterpane currently monitors 550 networks worldwide for multinational and Fortune 100 customers. The company is based in Mountain View, California. Post-acquisition, Bruce Schneier, the founder of the company, will continue in his role as CTO and Paul Stich will remain its CEO.
Andy Green, CEO BT Global Services, said: "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 globalization, we are finding that increasingly business critical applications are dependent upon the resilience and security of their infrastructure."
Security threats get more sophisticated and a larger number of companies are outsourcing the management of their security infrastructure to specialized security service providers. Counterpane is a leader in this space. This acquisition will allow BT to benefit from a unique set of security management technologies and deliver to its global customers a more proactive managed security service with enhanced auditing and reporting capabilities.
This acquisition is also another milestone in the execution of BT's growth strategy that includes inorganic and organic phases. It demonstrates again BT's commitment to extend its propositions and capabilities in areas that customers have identified as key business issues, while further strengthening its US capabilities.
Paul Stich, president and CEO, Counterpane, said: "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."
As of December 31, 2004 the audited gross assets of the business were $6.8m.