Hewlett-Packard Company (NYSE:HPQ) has agreed to buy Autonomy Corporation plc (LON:AU) for $10.3 billion. After the acquisition is complete, HP would spin off their PC business to focus on enterprise. Autonomy shareholders would receive $42.11 per share after the acquisition. This is a 64% premium from the day before the acquisition offer.

HP is about to make a big announcement, Bloomberg reports: it may be spinning out its PC business, possibly buying Autonomy Corp and definitely announcing its quarter earnings after the markets close today. Autonomy is a software company, and rumors say HP may be paying $10 billion for it. [Business Insider]