Feeds

Baltimore struggles to sell unit

VC firm withdraws offer

  • alert
  • submit to reddit

Remote control for virtualized desktops

ComputerWire: IT Industry Intelligence

Financially embattled security software maker Baltimore Technologies is struggling to sell its Content Technologies unit, which it acquired in an all-share deal for more than $992m in 2000.

The Guardian reported that the Dublin, Ireland-based company had been in talks with Apax Partners regarding the sale of the unit, but that it had withdrawn its offer at the last minute after conducting due diligence.

A Baltimore spokesperson refused to confirm or deny that Apax Partners had withdrawn an offer for its email filtering subsidiary, or whether or not talks with the company had been conducted, but would only say that talks were ongoing with "more than one other party".

Even so, it appears that it is struggling to complete the sale - last October it said it was close to a deal, claiming that three to five interested parties were conducting due diligence.

The unit has been on the market since August last year, as Baltimore needs to raise cash to keep afloat. Analysts estimate that the unit is likely to fetch only a fraction of the amount Baltimore paid for it, though a spokesperson declined to say what the asking price currently stood at.

© ComputerWire.com. All rights reserved.

Intelligent flash storage arrays

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
5 critical considerations for enterprise cloud backup
Key considerations when evaluating cloud backup solutions to ensure adequate protection security and availability of enterprise data.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Managing SSL certificates with ease
The lack of operational efficiencies and compliance pitfalls associated with poor SSL certificate management, and how the right SSL certificate management tool can help.