Baltimore rejects takeover bid

NEWS Security firm Baltimore Technologies has moved to stamp out takeover speculation when it rejected overtures from UK technology licensing company Chantilley. The company which has also been linked with industry heavyweights Computer Associates and Network Associates, said in a statement: "Having considered the approach, the board believes [Chantilley's encryption] technology will not enhance the product offering to customers." Last week, the company's founder Fran Rooney surprised industry watchers when he resigned as CEO. Weeks earlier Rooney told reporters he had no intention of abandoning the firm.