Internet security firm Baltimore Technologies is said to be close to selling its Content Technology business to a syndicate led by Amadeus Capital Partners.
According to a report in today's Financial Timesthe deal could be complete inside a week pending a number of outstanding issues.
Baltimore is also said to have another potential buyer waiting in the wings should the deal collapse.
Analysts believe Baltimore will sell Content for between £20 and £50 million sterling, a far cry from the £690 Baltimore paid for it in September 2000.
Amadeus is expected to merge Content with Clearswift, a similar e-mail management and security business which it led financing of £6.75 million in June.
Baltimore put Content up for sale in August after it admitted it had little in common with the company’s existing encryption software.
