Baltimore Technologies will decide in three to six months whether to put the company up for sale or to continue as an independent entity.
In an article in today's Financial Timeschief executive Mr Bijan Khezri said: "Every business is for sale at the right price, but the price so far has not been right."
The Irish Internet security firm has seen its share price drop from £13.75 sterling at the height of the Internet boom to 9.25p today.
Mr Khezri said: "The hard work of restructuring will soon be over. We have torn the company down in the last year, there is still lots to be done by this management to build it up."
He said Baltimore’s mistake was to diversify outside the security software business. The company has already let go 450 staff and 50 more are due to be made redundant.