By Pia Heikkila, 14 January 2002 17:30
NEWS Ailing Baltimore has lost the potential buyer of its Content Technologies business, according to newspaper reports this morning. Apax Partners was quoted as having withdrawn its offer for Content Technologies over concerns at the amount of money Content needs to get out of the red. Baltimore has claimed that more than one party has shown interest in Content. But the Dublin based company declined to identify the potential buyers. Baltimore has been trying to sell off Content - the security business it purchased last year in an all-share deal for over £700m - to avoid bankruptcy. Analysts have recently valued the Content Technologies in the region of £50m - just seven per cent of the original purchase price. Baltimore's results over the last six months have shown a huge drop in revenues. The company has also suffered a series of management overhauls. Baltimore was unavailable for a comment.
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