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Schneier's Counterpane Sells To BT
David Utter
Staff Writer
2006-10-25
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BT Group, the formerly-called British Telecom, has acquired the Counterpane Internet Security firm, which lists well-known cryptography and security expert Bruce Schneier as its CTO.
"This is something I've been working on for about a year," Schneier wrote on his blog, "and I'm thrilled that it has finally come to pass."
No other details have been forthcoming from Schneier yet. BT announced that Schneier would stay on in his role as chief technology officer, while Paul Stich remained as CEO.
BT sees the continued outsourcing of security functions to dedicated firms as a motivation for purchasing Counterpane. "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," the company said in its announcement.
Neither party disclosed a purchase price in the deal. However, BT noted that Counterpane's audited gross assets were $6.8 million as of December 31, 2004.
Schneier has been published in a multitude of places as he commented on various technology security issues of the day. He has written several books, including the seminal "Applied Cryptography," and "Secrets and Lies."
Fiction readers have seen him mentioned in Dan Brown's bestseller "The Da Vinci Code," and fans of Neal Stephenson will recall the Solitaire cipher used by Enoch Root and Randy Waterhouse in "Cryptonomicon." Schneier developed Solitaire for Stephenson to use in the book.
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Tag: Counterpane
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About the Author:
David Utter is a business and technology writer for SecurityProNews and WebProNews.
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