Tag Archives: Autonomy Corp
Autonomy Founder Mike Lynch Stepping Down From HP
Hewlett Packard acquired Autonomy for $10.3 billion in August 2011 under Leo Apotheker’s watch. Autonomy was profitable at the time of their acquisition, but under HP’s umbrella the company has seen significant declines in their licensing revenue. Autonomy founder Mike Lynch is now stepping down and he is being replaced by HP chief strategy officer and EVP of enterprise software Bill Veghte. In HP’s Q2 earnings release, the company said that this is being done to improve Autonomy’s performance. Below is a clip from the company’s earning announcement — I have bolded the part about Autonomy.
(more…)
Categories Autonomy Corp, Hewlett Packard, HP
Leave a comment
HP Agrees To Acquire Autonomy For $10.3 Billion, While Considering Killing Off WebOS and Spinning Off Hardware Business
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.
(more…)
Categories Autonomy Corp, Carly Fiorina, Hewlett Packard, HP, Léo Apotheker
2 Comments
Is HP About to Spin Out its PC Business?
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]
Categories Autonomy Corp, Hewlett Packard, HP
Leave a comment