Baltimore Technologies today announced it has conditionally agreed to sell its OmniRoot security software business to software company beTRUSTed for £2 million sterling.
Mr Bijan Khezri, Baltimore's chief executive, said the sale was a further step in maximising value for Baltimore's shareholders and customers.
OmniRoot is a root key embedded in most browsers and mobile devices and is designed to automatically accept and secure ecommerce transactions.
Based on 2002 accounts, OmniRoot generated revenues of about £600,000 and a profit before interest and tax of some £500,000. The net assets of OmniRoot were about £400,000.