Baltimore to sell US managed security business to beTrusted
22 July 2003 | 3036 views | 0
Baltimore Technologies has entered into a conditional agreement with beTrusted to sell its US-based managed services operations for a total consideration of approximately £1.1 million in cash.
The struggling Irish software security firm recently sold off its single sign-on business to HP but retreated from plans to flog the entire company.
Announcing the latest deal, Bijan Khezri, of Baltimore CEO says the firm's managed security offering - which operates from a secure hosting facility in Massachusetts - was more of a product distribution channel than a business in its own right.
"Economies of scale will drive consolidation of the managed security services market," he says. "This transaction will allow Baltimore to continue making the development, support and maintenance of our authentication business a priority."