McAfee subject of $208m bid

NEWS Network Associates (NAI) wants the 25 per cent of anti-virus firm, McAfee that it doesn't own and is prepared to pay $208m to get it. News of NAI's interest sent McAfee shares up $3.91 last night to finish the day at $19.45. According to Stephen Richards, CFO of NAI, the acquisition of the remaining part of McAfee would remove any confusion about the two companies and the similarities of the products. "We will no be able to compete more effectively against rivals such as Symantec," Richards told the Financial Times. McAfee was one of the few technology success stories last year. Its revenues for the full fiscal year were $62m, compared to $46.9m in 2000 - a rise of 32 per cent.