Baltimore Technologies said today it is in advanced talks about several offers for the company.
The deadline for offers for the company passed yesterday.
In May the former technology star announced it was putting itself up for sale. The company has been in decline since the bursting of the technology bubble.
Two profit warnings in quick succession in 2001 saw investors losing faith in the firm's encryption security software, sending Baltimore's shares towards record lows.
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Baltimore said it has also received several offers regarding specific parts of the company and will update the market on the progress of talks in due course.