Thursday, October 26, 2006

BT snaps up Counterpane Internet Security | CNET

"Britain's BT Group has snapped up United States-based Counterpane Internet Security for a sum of more than $20 million as part of a continuing commitment to the security offering and overall growth of its Global Services business. Around the time acquisition discussions began, Counterpane had audited assets of $6.8 million. BT declined to disclose the value of the deal, but a spokesman said it was worth "tens of millions of dollars."

Notes: This is no doubt a shitty outcome for investors who poured millions in the deal.

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