Counterpane Internet Security - computer security and encryption expert Bruce Schneier's firm - has been acquired by British Telecom for an undisclosed sum, according to the BBC. Counterpane currently monitors 550 networks worldwide for multinational and Fortune 100 customers.

"As security threats get more sophisticated, a larger number of companies are outsourcing the management of their security infrastructure to specialised security service providers and Counterpane is a leader in this space," BT's Andy Green said.

But bloggers are saying the acquisition was more of a firesale. Alan Shimel:

I was not surprised. I had heard rumors of tight money there for some time and thought we would be seeing something happening. This though on top of the less than top dollar paid by McAfee for Citadel and Preventsys could be a trend. IBM did not really overpay for ISS either.

On the other hand, VNUnet reports that speculation puts the price as high as $40mn.

In any case, Schneier will remain an outspoken presence on the blogosphere. He blogged: "They know I am an independent security commentator. "They're not looking for me to become a corporate shill."