Baltimore Technologies said Thursday it plans to acquire U.K.-based Content Technologies Holdings, exchanging 91 million ordinary shares of Baltimore stock in the agreement. The deal is worth $US992 million based on the value of Baltimore shares at the time of the company's statement.
U.K. electronic security vendor Baltimore is keen to acquire Content Technologies as a way to increase its presence in the content security market, the company said in the statement. Content Technologies designs products which help companies create policies that protect against confidentiality breaches, exposure to e-mail legal liability, junk e-mail, e-mail-borne viruses, and misuse of e-mail. Content Technologies claims to have 6,000 worldwide customers, totaling 6 million users.
Baltimore said the acquisition would also provide technology that allows vendors to increase security precautions when exchanging data with another company. In particular, Content Technologies' know-how may aid the ability to control the usage and distribution of data both within, and to and from, an organisation. Access control features, authentication services and confidentiality tools should also improve as a result of the deal, Baltimore said in the statementBaltimore also announced Thursday that Paul Sanders will start as the company's chief financial officer in November. Sanders currently serves as group finance director at SSL International PLC, a healthcare-related organisation.