BT has acquired managed security service provider Counterpane, the two companies announced today.
According to a statement on BT's website, the telecommunications giant bought the small California-based company for about $40 million as part of a "strategy to expand and develop its global professional services capabilities", to large and small businesses and the public sector.
Bruce Schneier will continue in his role as Counterpane CTO, according to a post on his blog.
"This is something I've been working on for about a year and I'm thrilled that it has finally come to pass," he said.
Andy Green, CEO of BT Global Services, said the acquisition is a reaction to its customers increasingly demanding more infrastructure security to protect "increasingly business critical applications."
Paul Stich, president and CEO of Counterpane, said: "It's 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."
Around the time talks between the two organizations began, the audited assets of Counterpane were $6.8 million.