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October 25, 2006
1 Min Read
COLORADO SPRINGS, Colo. — The parent of the former British Telecom will acquire Counterpane Internet Security Inc. for undisclosed terms.
BT Group plc will use Counterpane to provide managed security for 550 Counterpane customers and for BT's managed security customers.
Counterpane was founded by cryptography and security expert Bruce Schneier, who will remain chief technology officer for the independently managed company. Paul Stich will continue as chief executive officer.
Counterpane's assets at the end of 2004 were $6.8 million, and its sale to BT Group was estimated at several tens of millions of dollars. Schneier, author of Applied Cryptography, has served as a consultant on major industry and government security projects.
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