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Articles about Autonomy

Autonomy's ex-chief beancounter tries to kill HP investor settlement

Autonomy's former chief financial officer has sought to block HP from settling three shareholder lawsuits over its botched acquisition of the British software company. The former exec claims HP will use the settlements to "forever bury" its supposed culpability in the calamitous buy. Sushovan Hussain, who served as Autonomy's …
Jack Clark, 21 Jul 2014

HP in 'serious' settlement talks over Autonomy legal bust-up

Hewlett-Packard seems poised to settle a lawsuit with shareholders over its $10.7bn purchase of Mike Lynch’s software company, Autonomy. The computer company said in a statement that it is in “serious discussions” to settle the suit, brought in November 2012 by angry shareholders. “No final deal has been reached yet,” HP said …
Gavin Clarke, 30 Jun 2014

Did HP just tip its hand on Autonomy? Spoiler: It was a busted flush

Autonomy has come under fire for a software deal between itself, reseller MicroTechnologies, and the Vatican – but all is not as it seems. A report published by Reuters on Friday attempted to shed light on HP-owned Autonomy's strange deal to sell technology worth $11.55m to MicroTechnologies, which was bidding on a contract to …
Jack Clark, 18 Jul 2014

Ex-Autonomy boss Mike Lynch goes nuclear: Claims HP 'misleads' its own shareholders

Mike Lynch, former chief of HP-owned Autonomy, tossed an explosive shareholder letter onto the internet today – just hours before HP's annual investors' meeting in Santa Clara, California. The scathing missive alleges Hewlett-Packard has been "misleading" its shareholders about the reasons behind the computer giant's $8.8bn …
Jack Clark, 19 Mar 2014
management management1

HP clinches six week extension on whether to join shareholders' suit against Autonomy

HP has said that it has made decisions about how to proceed with a case brought by its shareholders over the $8.8bn writedown for the acquisition of Autonomy – but it wants six more weeks to mull them over. The company was given until last Friday to think about recommendations by a committee of independent directors over the …

Blighty's SFO 'not conflicted' on Autonomy numbers probe

Blighty's Serious Fraud Office has said that there's no conflict of interest in its criminal investigation into Autonomy, despite reports that the SFO itself uses the firm's document management tool Introspect. The SFO was called in to look into allegations from new owners HP of accounting irregularities and misrepresentations …

HP 'KNEW' about Autonomy's hardware sales BEFORE the whistle blew: report

HP knew about Autonomy's hardware and reseller sales long before a whistleblower pointed them out and the company wrote down its acquisition by $8.8bn, the Financial Times has claimed (paywall), citing emails and Deloitte audit reports. HP has accused Autonomy of "accounting improprieties, misrepresentations and disclosure …

HP: Autonomy overstated 2010 profits, cuts them by 81 PER CENT

HP has filed at the UK's Companies House the results of an audit of the 2010 financial results of two of Autonomy's eight divisions, which says that the UK software firm's revenues were actually just 54 per cent of its initially stated figure, and that their profit figure for the year needs to be cut by a whopping 81 per cent. " …
Iain Thomson, 04 Feb 2014
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Judge rules investors can sue Meg Whitman and HP over Autonomy

HP and its chief Meg Whitman will have to face claims from a shareholder class action lawsuit alleging the exec and her firm knew statements from Autonomy's management were misleading before the acquisition. US District Judge Charles Breyer ruled that investors can go ahead with claims against the company and Whitman, saying …

'British Bill Gates' Lynch laments HP's Autonomy 'botch-up'

Mike Lynch, once billed as Britain’s Bill Gates, has lamented the handling of his former company Autonomy, saying Hewlett-Packard fumbled the acquisition. In a softball CNBC interview where he pushed his Invoke Capital venture fund, Lynch said Autonomy was the “next generation of software” until HP "dropped the ball". In …
Gavin Clarke, 16 Sep 2013

Look out, world! HP's found a use for Autonomy - rescuing Win XP bods

HP is offering an Autonomy-powered escape route for wannabe migrants from the dead-end of Windows XP. Microsoft will no longer support for XP, and withhold security updates for the ageing operating system, from next April. Business users will need to upgrade their PCs to run a more modern version of Windows; companies face …
Chris Mellor, 25 Sep 2013

Probe into Autonomy allegations could take years - report

The federal probe into the alleged book-cooking at Autonomy prior to its acquisition by HP could take years to play out, according to reports. This will not be music to the ears of Mike Lynch, former CEO of Cambridge-based Autonomy, who stands accused, along with his fellow directors, of deceptive accounting irregularities that …
Paul Kunert, 12 Jun 2013
Mike Lynch

UK financial watchdog bends Autonomy over for fresh probe

HP-owned software house Autonomy faces more probing, this time by the Financial Reporting Council (FRC). The British corporate governance watchdog announced today it will investigate allegations that the Brit biz overinflated its value by $5bn just before Hewlett-Packard bought it in 2011. HP's buy-up of Autonomy for $10.7bn is …
Anna Leach, 11 Feb 2013
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HP wanted to offload Autonomy on SAP, says SAP co-chief

HP tried to offload Brit software house Autonomy onto German giant SAP sometime before last month, it is claimed. Bill McDermott, co-chief exec of SAP, told the UK's Times that the firm had been approached by HP after it was told the business was "available", but SAP wasn't keen on the idea. "We were aware that it was on the …
management research

UK Serious Fraud Office queues up to probe HP's Autonomy allegations

The UK Serious Fraud Office has told The Register it is investigating allegations of accounting irregularities at Autonomy, the Brit software house gobbled by HP for $10.7bn in 2011. In November last year, Hewlett-Packard claimed Autonomy "outright misrepresented" its value in the months before its acquisition, causing HP to …
Gavin Clarke, 12 Mar 2013
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HP knew Autonomy was a duff buy, claim HP shareholders in $1bn suit

HP ignored numerous warning signs about the state of Autonomy's finances and accounting irregularities at the firm before acquiring it for $11bn, shareholders have alleged in a $1bn lawsuit. The investors are suing HP's current CEO Meg Whitman, her predecessor Leo Apotheker, former HP chairman Ray Lane and Autonomy founder Mike …
Mike Lynch

Autonomy to HP: bollocks

The HP-Autonomy spat has, predictably, turned into a high-profile slanging match, with Autonomy founder Mike Lynch firing back at Meg Whitman via the Wall Street Journal. Hewlett-Packard has sensationally written down the value of the software company it acquired last year by nearly $US9 billion, and blamed Autonomy for “ …
Mike Lynch

Autonomy founder attacks HP fraud charges with new website

British software entrepreneur and Autonomy founder Mike Lynch has launched a new website dedicated to airing his ongoing grievances with HP, which has accused him and other former Autonomy execs of misrepresenting the company's finances. The site, which is hosted at AutonomyAccounts.org, says it aims to provide "relevant …
Neil McAllister, 04 Dec 2012
Mike Lynch

Lynch and his Autonomy inner circle depict selves as crime kingpins

The brash sales culture at Brit software biz Autonomy, since controversially sold to HP, was portrayed by co-founder Mike Lynch and his inner circle as being similar to organised crime in a prank corporate video which surfaced recently. The five minutes of hilarity - no honestly, it really is very tasteless funny - was quietly …
Paul Kunert, 05 Mar 2013
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'HP has just days to cough what it knew about Autonomy'

HP will have to bare all in its beef with Autonomy's former management before the year is out, a former SEC advisor has suggested. Hewlett-Packard took an $8.8bn write-down last month after alleging accounting errors were made at Brit biz Autonomy in the weeks before HP acquired it for $10.7bn in 2011. In turn Autonomy co- …
Paul Kunert, 06 Dec 2012
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HP dangles axe over Autonomy salesmen, cash wad over coders

HP plans to lay off sales staff at Brit software subsidiary Autonomy while seeking to shore up the small biz's R&D. An internal memo penned by Robert Youngjohns, an exec hired from Microsoft last September, started with the good news first and claimed the tech titan is pumping more cash into software development overall. "As …
Paul Kunert, 15 Jan 2013
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HP hires Youngjohns to head up Autonomy

HP has filled the Mike Lynch-shaped hole at the top of its Autonomy business with another Brit, Robert Youngjohns, the boss of Microsoft's North America empire. Lynch left the organisation early in the summer in a phased restructure that will see a total of 27,000 HPers – or 7.7 per cent of the workforce – leave by the end of …
Paul Kunert, 10 Sep 2012

HP: AUTONOMY 'misrepresented' its value by $5 BILLION, calls in SEC

Hewlett-Packard dropped a bomb this morning in reporting its financial results for its fiscal 2012 year, stating that the British software company Autonomy, which it acquired a little more than a year ago, "outright misrepresented" its own value - leading to a colossal $8.8bn writedown for HP today. In a conference call ahead of …
Mike Lynch

'Brit Bill Gates' was powerless to stop HP's Autonomy acquisition

Mike Lynch didn't fall out of love with Hewlett-Packard, it was HP which didn't know what it wanted. So says "Brit Bill Gates" Mike Lynch, who has even suggested HP's initial advances under then chief executive Leo Apotheker were unsolicited - possibly even unwanted - and that he was powerless to stop the acquisition. Speaking …
Gavin Clarke, 01 Mar 2013

Lawsuit launched against HP following Autonomy catastrophe

Investors are suing HP over accusations that senior execs hid negative information on multibillion acquisition Autonomy which subsequently led to a share price collapse. It was only a matter of time before stockholders got legal representation following last week's spat, when HP wrote-down $5bn related to the Autonomy buy, …
Paul Kunert, 27 Nov 2012
Mike Lynch

'Brit Bill Gates' Lynch: Only Mad Leo Apotheker understood Autonomy

The origins of Autonomy's declining fortunes can be traced back to the moment HP axed its former hapless CEO Leo Apotheker, claims Mike Lynch, the founder of the Brit software firm. This comes as Autonomy is accused of "accounting improprieties and misrepresentations ... prior to 2011 acquisition by HP" by the Palo Alto tech …
Paul Kunert, 22 Nov 2012
hands waving dollar bills in the air

HP finally swallows Autonomy

HP has finally concluded the $10.24bn acquisition of Cambridge-based enterprise search and BI software firm Autonomy. The £25.50-per-share offer was given the green light by 87 per cent of Autonomy's shareholders last night - a whopping 79 per cent premium on the stock price on 18 August when HP first lodged the bid. Reaching …
Paul Kunert, 04 Oct 2011
paper cut-out men holding hands in linked semi-circle

HP and shareholders to gang up against 'Brit Bill Gates'

Hewlett-Packard and its disgruntled shareholders have settled three lawsuits related to the $10.7bn acquisition of British search specialist Autonomy. But the Autonomy fight is not over – far from it. Both sides have now agreed to co-operate in "potential litigation" against Autonomy’s former CEO Mike Lynch and members of his …
Gavin Clarke, 01 Jul 2014
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Hits keep on coming: HP buys Autonomy for $11bn cash

HP has confirmed it is buying Cambridge-based enterprise software company Autonomy for $10.24bn (£6.2bn). The acquisition was half-confirmed during last night's conference call, when the ink giant said the two companies were "in talks". But a statement from Autonomy this morning said the two company boards had agreed a cash …
John Oates, 19 Aug 2011
For Sale sign detail

HP extends deadline as Autonomy shareholders drag feet

HP has extended the acceptance deadline for its Autonomy bid as fewer than half the UK software developers' shareholders approved the £7bn deal. Yesterday's closing date for agreeing on HP's £25.50 per share offer made on 19 August passed with just 42 per cent of Autonomy investors giving the thumbs-up, despite the deal …
Paul Kunert, 13 Sep 2011
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Oracle accuses Autonomy chief of telling 'whopper'

Autonomy boss Mike Lynch has continued to deny trying to flog his company to Oracle before the recent controversial deal with HP - despite the database giant's blunt claims that he is telling "whoppers". Lynch was responding to Oracle CEO Larry Ellison's previous remarks to the effect that Autonomy was shopped to Oracle before …
Chris Mellor, 29 Sep 2011

Whitman: HP '100 per cent committed' to Autonomy

Hewlett-Packard CEO Meg Whitman kicked off the Discover 2012 customer and partner event today in Frankfurt with a keynote address meant to calm everyone down about HP and its future. And she trotted out her lieutenants in the enterprise hardware and software groups to help make her case. Whitman made no bones about the fact that …
hands waving dollar bills in the air

Quattrone blasts Ellison, says Autonomy is right

Investment banker Frank Quattrone has said Autonomy's Mike Lynch is right and Oracle is wrong: Mike Lynch did not shop Autonomy to Oracle - he did. Oracle, in a decidedly aggressive and blunt press release and website blitzkrieg, had said that Autonomy boss Mike Lynch, accompanied by Frank Quattrone, head of Qatalyst Partners, …
Chris Mellor, 30 Sep 2011
HP

HP chairman Ralph Whitworth steps down immediately

HP is losing the man who has chaired its board of directors for the past two and a half years, over health concerns. The IT titan said Ralph Whitworth, 58, will be stepping down from the chairman position effective tomorrow in order to focus on his wellbeing. Further details on Whitworth's condition were not given by the company …
Shaun Nichols, 15 Jul 2014

HP Simplivity buyout rumours: Could it be worth HALF a BILLION?

HP is said to be in talks to buy Simplivity, a startup whose main offering is the Omnicube converged server/storage/networking systems. The Omnicube is a so-called hyper-converged system, designed from the ground up to eliminate the data centre chaos of independent server, storage and networking products that have to be …
Chris Mellor, 10 Jun 2014
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HP settles lawsuit after Mad Leo's WebOS and PC biz shenanigans

HP has agreed to pay $57m to shareholders miffed by the management of Leo Apotheker. This comes after the plaintiffs sued the firm for defrauding them by abandoning its business model. The investors launched a class action suit after former chief Apotheker shocked them, and the rest of the tech world, by announcing plans in …

HP re-elects all directors

The decisions to acquire Palm, Autonomy and EDS, all of which are hard to qualify as qualified successes, have failed to result in any of Hewlett Packard's board members losing their seats. The eleven-strong board all survived yesterday's annual general meeting, despite previous rumblings that some were likely to feel …
Simon Sharwood, 21 Mar 2013

Brit Bill Gates writes ANOTHER open letter to HP board

Former Autonomy mobster Mike Lynch wants HP to shine a light on the accusations of book-cooking made against him and his exec team when it holds the annual shareholder meeting later today. Good luck with that Mike, it's not the first time you've tried and been stonewalled by HP. In fact, when The Channel asked HP about its …
Paul Kunert, 20 Mar 2013
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HP shareholders advised to give chairman Ray Lane the boot

Two leading proxy advisors are trying to convince HP shareholders to boot out several directors over the ill-fated acquisition of Autonomy, including chairman Ray Lane. ISS, the world's top proxy advisor - a firm hired by shareholders to make recommendations and sometimes cast votes on their behalf - has told HP stockholders to …
Two teenage girls - one whispering in other's ear

Big Data is like TEENAGE SEX

The joke doing the rounds on social media compares big data to teenage sex: everyone's talking about it, only a few know how to do it, they all think everyone else is at it and so pretend they are too. And humans fumbling about in the dark, so to speak, are the weakest link in the world of analytics and data, said Steve Brazier …
Paul Kunert, 20 Feb 2014
Love

HP: We're holding nothing back from partners now, coos firm

The new, channel-friendlier HP - jolted into action by CEO Meg Whitman and losing the PC crown to Lenovo - is trying to help rather than hinder partners efforts to build global sales business with customers. A year ago Whitman told a gathering of resellers, integrators and providers of services at its global partner knees-up …
Paul Kunert, 08 Apr 2014

Unions mull appetite for HP strike action over 16k job cull

Trade unions are this morning digesting the revelation that another 16,000 HP workers are headed for the dole queue, as confirmed by CEO Meg Whitman. The exec revealed that thousands of more names will be added to the existing job cutting programme dubbed "Make It Better" that started in 2012 and initially included 27k, 29k, 34k …
Paul Kunert, 23 May 2014
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Autonomy forks out $375m for US expansion

Cambridge-based software firm Autonomy is buying US document storage and retrieval company Zantaz Inc. The deal should complete by August, and generate savings of $25m a year. Zantaz counts nine of the world's ten biggest law companies among its customers, and 11 of the Fortune 25, so Autonomy is buying a serious customer base …
Bill Ray, 03 Jul 2007

HP's Machine and IBM's $3bn R&D splash – aka how to survive Google

IBM and HP are trying to invent their way out of severe problems that lurk in their future. Both companies face slowing sales in some of their traditional high-margin areas, like enterprise servers and other on-premises hardware. And both are having a tough time converting existing business divisions over to selling the high- …
Jack Clark, 23 Jul 2014
management big_data4

IDC: Biz to splurge $70bn on 'analytics services' by 2016

A dearth of heavy-duty analytics talent means enterprise customers are turning to channel folk to make sense of their data. So say bean-counters IDC, who forecast that by 2016 some $70.8bn will be spent on analytics services, a compound annual growth rate of 14.3 per cent for the next half a decade. And IT service providers …
Paul Kunert, 15 Apr 2013

Autonomy pumps up the MS-Sharepoint search action

Microsoft has turned to Autonomy to inject structured and unstructured search capabilities into its SharePoint collaboration platform for large, mixed deployments. The partnership will enable users of SharePoint to search and return results securely from more than 300 structured, relational, XML, video and voice sources inside …
Gavin Clarke, 06 Jun 2007
Mike Lynch

'Brit Bill Gates' defends his honour in open letter to HP board

Hewlett-Packard has slapped down former Autonomy boss Mike Lynch after he called for details of accounting charges made against him and for an explanation of what HP executives really knew. In an open letter to PC giant’s board, Lynch effectively accused HP of smearing him by releasing selected information to the media and he …
Gavin Clarke, 28 Nov 2012

You thought only Google dodges UK taxes? So do all the Brit firms

Big British-based tech firms like Autonomy and BSkyB have subsidiaries in onshore and offshore tax havens, and avoid paying taxes in much the same way as has been highlighted in the case of US firms Google and Amazon. Research shows that most of Blighty's top companies have offshoots in tax havens, according to charity ActionAid …

BlackBerry in talks to spin off Messenger division

Struggling smartphone maker BlackBerry is seriously considering spinning off its BlackBerry Messenger (BBM) service into its own, subsidiary company, according to reports. The Wall Street Journal claims the new company would be called BBM Inc., and would operate with greater autonomy than the BBM division does now, citing the …
Neil McAllister, 27 Aug 2013
Pirates ahoy!

Autonomy drops ACID test for copyrighted media

Autonomy has criticized Silicon Valley's Web 2.0 obsession with tagging to classify data, while launching its own software to help media companies scan web sites for pirated content. The enterprise search specialist has launched its Automatic Copyright Infringement Detection (ACID) software, which it claimed is capable of …
Gavin Clarke, 06 Apr 2007

Opinion

Lightning

Jack Clark

Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
Microsoft CEO Satya Nadella
ARA_LIbertad

Chris Mellor

Elliott Management sinks its teeth into retiring godhead

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Vorsprung durch grossendatatechnik, as we like to say in Germany