Wednesday, October 25, 2006

BT Buys Counterpane

British Telecom said this morning that it has acquired Moutain View-based Counterpane Internet Security, in a deal that has been reported to be worth more than $20M. Financial terms of the deal were not disclosed by the companies. BT said that it will add Counterpane as part of its global professional services capabilities. Counterpane founder Bruce Schneier and CEO Paul Stich will remain with the firm. Counterpane, which monitors network security for companies, has raised more than $78M in venture capital from Accel Partners, Bessemer Venture Partners, Comcast Interactive Capital, Meritech Capital Partners and Morgan Stanley Dean Witter Private Equity.