Britain's BT Group has snapped up United States-based Counterpane Internet Security for a sum of more than $20 million as part of a continuing commitment to the security offering and overall growth of its Global Services business.
Andy Green, CEO of BT Global Services, said the acquisition is a reaction to BT customers' demand for more security at the network level to protect "increasingly business-critical applications."
The deal has been a long time in the pipeline, according to Schneier. Posting on his blog, he said, "This is something I've been working on for about a year, and I'm thrilled that it has finally come to pass."
Around the time acquisition discussions began, Counterpane had audited assets of $6.8 million. BT declined to disclose the value of the deal, but a spokesman said it was worth "tens of millions of dollars."
Will Sturgeon of Silicon.com reported from London.
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