Shares in Baltimore Technologies pushed higher today amid speculation that a rival may be considering a bid for a unit of the troubled Irish security software group, dealers said.
British based Surfcontrol has reportedly admitted an interest in Baltimore's Content Technologies unit, which was put on sale last month as part of a programme of drastic cost-saving measures.
Surfcontrol could not be contacted this morning, while a Baltimore spokesperson was not immediately able to comment.
US-based Content Technologies, which provides e-mail filtering software, was purchased by Baltimore for £702.5 million sterling in stock last September. When put up for sale last month, analysts valued the Content unit at around £40-50 million. This compares to Baltimore's current market capitalisation of £71.6 million.
At 10.47 a.m., shares in Baltimore were trading up 2.25p to 16.25p.
AFP
