Troubled security software vendor Baltimore Technologies could be the target of another takeover bid following disastrous financial results, experts said last week.
Baltimore was the subject of an attempted takeover by encryption technology firm Chantilley, but the bid was withdrawn after Baltimore rejected a second offer.
Mike Downey, Chantilley's finance director, suggested that other firms might follow suit. "There is a good possibility that other companies will make offers for Baltimore now. I don't think they understood the strength of our offer," he said.
Baltimore announced a restructuring programme last week, which it said will allow it to focus on its "core areas of expertise in providing trust and security for ebusiness".
The announcement followed its results for the six months ended 30 June, which revealed a pre-tax loss of $550.3m, compared with a $25.5m loss the year before.
Under the restructuring, which the firm said will save $72m per year, 220 jobs will be lost, adding to 250 axed earlier this year. Baltimore also plans to sell its Content Technologies email security subsidiary, which it bought for $1bn last year. Chief financial officer Paul Sanders said the firm was "addressing the situation".
Brian Burke, manager of Dun & Bradstreet's Computanet, said: "A few firms will be looking at Baltimore. Given their position, these type of talks will not be so deeply frowned upon."
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