Articles about Autonomy

A businessman in handcuffs

Ex-Autonomy CFO pleads not guilty to charges he inflated the company's value

The ex-chief financial officer of Autonomy, Sushovan Hussain, has pleaded not guilty to charges he inflated the price of his company's $11bn (£9bn) acquisition by Hewlett-Packard. It is the latest development in the ongoing legal spat after HP wrote down the acquisition by a staggering $8.8bn (£7.1bn) in 2012, a year after the …
Kat Hall, 13 Jan 2017
A businessman in handcuffs

Former Autonomy CFO indicted in USA for misleading investors

Updated The long-running spat between HP and the company formerly known as Autonomy has taken another turn, with Autonomy's former chief financial officer Sushovan Hussain indicted in a San Francisco court last week. The move was immediately criticised by a collective of former Autonomy executives as the Department of Justice (DoJ) “ …
Very colourful For Sale sign (limited offer etc). Photo by Shutterstock

Hewlett Packard Enterprise in talks to offload software, asking for '$8bn to $10bn'

The breakup of Hewlett Packard Enterprise is set to continue with execs locked in talks to offload the software division to private equity biz Thomas Bravo. The asking price is said to be $8bn to $10bn. The sale, reported first by Reuters, would close the curtain on one of HPE’s most embarrassing episodes, namely the …
Paul Kunert, 2 Sep 2016
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HPE dumps software biz into the bargain bin

HP Enterprise (HPE) has reportedly begun entertaining offers to sell its software business. A report from Bloomberg cited sources familiar in claiming that CEO Meg Whitman is looking to sell some or all of HPE's software brands, including Vertica, Autonomy, and Mercury. Talks are said to still be in the early stages with no …
Shaun Nichols, 11 Jul 2016
Risky Business

HPE chases risky business with Autonomy and Stonebraker tech

Hewlett Packard Enterprise is rolling out a hosted investigative analytics service in response to a report that regulators imposed $260bn in fines on firms in the wake of the 2007-08 financial crisis. HPE Investigative Analytics is an umbrella product formed from a stable of products either bought or built by HPE. They …

Autonomy 'poisoned the well' for businesses seeking VC cash

HP's ill-fated Autonomy acquisition has 'poisoned the well' for other enterprise search outfits seeking an injection of venture capitalist cash, Patrick White, the head of start-up Synata, has said. Not surprisingly, Synata itself is working in the enterprise search space and has so far raised $1.5m (£1m) dollars in seed …
Kat Hall, 7 Oct 2015

Autonomy ex-boss Lynch tells of poisonous life within HP in High Court showdown

Analysis Former Autonomy CEO Mike Lynch has stepped up his rhetoric against HP in his latest lawsuit against the firm, having characterized HP as a snake pit of backbiting and internecine squabbling where execs "generally fought amongst themselves like cats in a sack." In papers [PDF] filed with the UK High Court on Thursday, Lynch …

Ex-Autonomy CEO Mike Lynch sues HP for $150m+

Autonomy founder and ex-CEO Mike Lynch is suing HP for at least $150m (£100m) in damages over its assertion that he helped cook the books to inflate the price it paid for the software firm. Back in the summer of 2011, HP forked out $10.7bn to acquire Autonomy. Little over a year later, the US giant accused Lynch of …
Paul Kunert, 1 Oct 2015

HP's Mad King Léo ignored Autonomy iceberg, emails claim

Leo Apotheker of former HP fame ignored warnings from his own board and shareholders about the ill-fated $11.1bn Autonomy acquisition that resulted in a $8.8bn write-down and allegations of accountancy fraud, a cache of internal emails suggests. The messages were filed in a northern California district court at the end of …
Kat Hall, 28 Sep 2015
Larry Page's new yacht, 'Senses'

Investors fling fresh cash at Mike Lynch-backed Darktrace

Cyber security outfit Darktrace, which is backed by billionaire superyacht owner Mike Lynch, has raised yet more cash, this time drumming up the princely sum of $22.5m (£14.4m). Darktrace uses machine learning and mathematics to detect early-stage cyber threats. The biz was founded by former members of the intelligence …
Kat Hall, 23 Jul 2015
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HP coughs up $100 MEEELLION to settle Autonomy lawsuit

HP has coughed up $100m (£65m) to settle its legal dispute with a Dutch pension fund over its massive $8.8bn (£5.6bn) Autonomy write-down. HP confirmed today that it has entered into a settlement agreement with PGGM Vermogensbeheer, the lead plaintiff in the securities class action arising from the impairment charge taken by …
Kat Hall, 9 Jun 2015
gavel_judgment_channel

Vatican 'ghost account' claims as reseller wades into Autonomy-HP legal struggle

MicroTechnologies, a reseller caught up in the long running HP/Autonomy legal battle, has itself fired a legal salvo at the US behemoth. MicroTech claims it is owed millions of dollars for software that was paid for but never delivered. MicroTech was named in HP’s claims against former Autonomy CEO Mike Lynch, saying that he …
Paul Kunert, 19 May 2015
HP

HP lifts lid on Autonomy lawsuit claims, but Lynch cries BOLLOCKS

On Tuesday, HP made public the details of the lawsuit it has filed against former Autonomy executives Mike Lynch and Sushovan Hussain in the UK, in what is just the latest round in litigation that is only likely to get uglier as the suit progresses. "HP confirmed today that Particulars of Claim against Lynch and Hussain were …

HP blasts $5.1bn sueball at ex-Autonomy execs, Lynch preps return fire

As it has long threatened to do, HP has sued two former Autonomy executives, accusing them of impropriety related to the two companies' financially disastrous 2011 merger. The Palo Alto, California firm filed suit against Autonomy cofounder Mike Lynch and former CFO Sushovan Hussain at the High Court in the UK on Monday, over …
Neil McAllister, 31 Mar 2015

Judge OKs HP's cash-free settlement plan in Autonomy investor suit

HP has won court approval of a deal that would settle a lawsuit brought by shareholders over HP's botched acquisition of software maker Autonomy. US District Judge Charles Breyer has granted preliminary approval of the latest version of HP's proposed settlement, Bloomberg reports, despite having rejected similar proposals …
Neil McAllister, 13 Mar 2015

SFO: 'Insufficient evidence' for conviction over HP-Autonomy deal

Updated The Serious Fraud Office has retracted its probe into the sale of Autonomy to HP in 2011 on grounds that the information presented to it provides "insufficient evidence for a realistic prospect of conviction". The investigation began in early 2013, following a referral from HP. In 2012, the company alleged Autonomy had " …
Kat Hall, 19 Jan 2015
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HP's shareholder settlement deal over Autonomy merger DENIED – again

A US district judge has thrown out a proposed settlement deal of a sueball lobbed at HP by some of the company's shareholders, after it bought Blighty software outfit Autonomy for $10.7bn in 2011. "The shareholders appear to be relinquishing a whole universe of potential claims regarding HP governance and practices with no …
Kelly Fiveash, 20 Dec 2014
Larry Page's new yacht, 'Senses'

Hey, HP shareholders! Mike Lynch is set to buy a 180-foot superyacht with his Autonomy loot

Exclusive Mike Lynch, the man whose sale of software biz Autonomy to HP resulted in an $8.8bn writedown at the US titan and ongoing probes by the Serious Fraud Office, the US Justice Department and the SEC, is set to splash out some of his gains on an enormous yacht. Sources tell The Register that Lynch is engaged in purchasing a …
Paul Kunert, 12 Sep 2014

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