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Baltimore in advanced sale discussions

01 July 2003  |  3054 views  |  0 Baltimore in advanced sale discussions

Irish digitial certification outfit Baltimore Technologies says it is in advanced discussions with several firms to sell all or parts of the company.

In May, Baltimore appointed JPMorgan to handle a controlled sale process, with a view to seeking a binding offer for the company by 30 June.

In a brief update released to the London Stock Exchange, Baltimore confirms "that it is in advanced discussions regarding several offers for the whole of the company, as well as several offers regarding specific parts of the company".

The firm says it will update the market on the progress of those discussions in due course.

The struggling company, which supplies PKI-based security systems to some of the world's leading banks, fired two-thirds of its workforce during the 2002 fiscal year as revenues and losses mounted.

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