BT acquires US security firm Counterpane

BT Group, the former British telecom monopoly, bought Silicon Valley-based Counterpane Internet Security to boost its computer security services for corporate customers, an Associated Press report said.The Associated Press report said financial terms were not disclosed.The acquisition is the latest example of industry giants looking to beef up their security offerings, it added.Data storage provider EMC completed two deals with information security companies this year, buying RSA Security and Network Intelligence for a total of $2.3 billion. IBM is set to soon close a $1.3 billion acquisition of network monitoring company Internet Security Systems.Counterpane monitors 550 computer networks worldwide for multinational and Fortune 100 customers to help them guard against hackers and other security threats. The privately held company, launched in 1999, had assets of $6.8 million at the beginning of last year, BT said in a statement.One of Counterpane's founders was Bruce Schneier, a leading cryptologist who in recent years has become a wide-ranging security guru and critic of national security practices.Under the buyout, Schneier will continue in his role as Counterpane's CTO and Paul Stich will remain chief executive, the report said.BT said Counterpane will help expand its security management services, particularly in the US.