Feeds

HP finally swallows Autonomy

Looks a bit queasy, starts doing little eggy burps

The Power of One Infographic

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 this stage has not been plain sailing for HP: it was forced to extend the deal's deadline after Autonomy shareholders dragged their feet on the tie up even though a better offer was unthinkable.

Then CEO Leo Apotheker - who backed the bid for Autonomy as part of his vision to transform HP into an enterprise service and software firm - tendered his resignation after the public cock-up over HP's PC biz, WebOS and the Autonomy buy price.

Autonomy CEO Mike Lynch - who got involved in a spat with Oracle boss Larry Ellison recently - will lead HP's expanded software biz unit.

“We are at the dawn of a new era when it is the ‘I’ in IT that is changing, not just the ‘T'," said Lynch in a statement.

HP CEO Meg Whitman, who is still working out the fate of the Personal Systems Group, said gobbling Autonomy will help HP tackle the big data conundrum.

“The exploding growth of unstructured and structured data and unlocking its value is the single largest opportunity for consumers, businesses and governments,” she said. ®

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.