IBM and Siemens are both conducting preliminary negotiations to buy Israeli startup CTrue. The firm specializes in three-dimensional imagery and biometric identification based on physiological data.

CTrue's business development manager, Shai Yaakobi, revealed the existence of the talks yesterday.

Both IBM and Siemens approached the company separately, and a number of meetings have been held with each suitor so far.

The negotiations started with offers valuing the CTrue at $80 million, but investors are still not interested in an exit at this stage, says Yaakobi - unless of course the offer is too good to refuse.

CTrue was founded in November 2006 by a group of private investors wanting to develop particularly exacting three-dimensional imaging technology. It is located in the Rehovot Science Park.