Feeds

Autonomy to HP: bollocks

‘We have been ambushed’

Mobile application security vulnerability report

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 “misrepresenting” its value during the Leo Apotheker-era $US10.7 billion acquisition.

Lynch’s furious response is that he and the other former owners of Autonomy have been “ambushed”. In the question-and-answer interview, here, Lynch fires both barrels, reloads, and fires again.

Since HP has owned the business for four quarters, he asserted, it must have known what was in those books before now. “The figures are just mad,” he told the WSJ, and in a due diligence that involved “300 people” in which HP “threw everything at it … how could you possibly not spot it?”

“It does seem to be coincident with them releasing the worst set of results in their 70 year company history”, he notes. Reloading yet again, Lynch then listed some of HP’s prior performance in acquisitions: EDS and Palm, both of which resulted in write-downs.

He blames internal HP politics for the disaster, saying that in the inter-divisional war between hardware and software, “Autonomy was at odds with the divisions that were in power”. After Apotheker’s departure, he claims, “hundreds of talented people” were lost, hamstringing the operation.

As soon as “there is some flesh put on the bones” of HP’s allegations, he said, “we will show they are not true”.

With the SEC called in by HP, El Reg reckons this will keep popcorn-sellers in business for some time to come. ®

The Power of One Brief: Top reasons to choose HP BladeSystem

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 fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
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
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
prev story

Whitepapers

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.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.