Baltimore buys Mimesweeper for £700m

Irish security firm Baltimore Technologies will pay £702m for Content Technologies, the developer of Mimesweeper security software.

UK-based Content Technologies produces software designed to screen junk mail and email viruses. It helps to protect against confidentiality breaches and email liability. Employers, for example, can then stop employees sending CVs via the company email, or can ensure financial spreadsheets do not leave the network. The company claims to have six million users of its software. Aidan Gallagher, executive vice president at Baltimore, said: "The whole content area is something customers treat as extremely important, and a lot of e-security firms don't realise this." He added: "The software will allow companies to manage and check the content both going into and coming out of their networks." Baltimore - which hopes to complete the deal within six weeks - recently regained its position in the FTSE 100, after slipping out of the top listing in June.