Troubled Irish security software group Baltimore Technologies today said more than one party remains interested in buying its Content Technologies unit.
But a Baltimore spokeswoman declined to identify the parties or confirm a newspaper report that private equity firm Apax Partners had dropped out of the bidding for Content, which provides e-mail-screening software.
The Guardiannewspaper reported Baltimore was set back by an Apax decision to withdraw its offer for Content over concerns at the amount of money needed to get the unit back on its feet. Officials at Apax were not immediately available to comment.
Baltimore shares, which fell over 7 per cent in early dealings, recovered some ground on the news, to stand 4.4 per cent lower at 16 1/2 pence at 11.25 a.m.
Baltimore was a darling of the stock market at the time of technology frenzy in early 2000. It was briefly placed in the FTSE 100 index of London's largest listed companies.
But a decline in demand for its Internet security products amid a cut in IT spending reversed its fortunes. Its shares shed 96 per cent of their value in 2001.
Baltimore put Content up for sale last August as part of a restructuring plan to weather the downturn in its sector, having bought it for £700 million sterling in 2000.
Sources said in October that software company SurfControl had withdrawn from bidding for Content as it believed the price of £20 million, which has been cited in the media, was too much.