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Articles about Autonomy

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
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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
management regulation2

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 …
HP Autonomy homepage screen

US Air Force turns up dubious Autonomy accounting in reseller contracts probe

An investigation by the US Air Force into alleged accounting irregularities at Micro Technologies has unexpectedly dragged all that nasty business between HP and Autonomy back into the limelight. The USAF has been looking into MicroTech, which does a lot of business with government agencies – and, crucially, resells Autonomy …

'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 …
The Register breaking news

US, UK probe HP claims of accounting mischief at Autonomy

The US Department of Justice is investigating Hewlett Packard's allegations that British software company Autonomy cooked its books before it was bought up by HP. Hewlett Packard claimed accounting irregularities and financial misrepresentation at Autonomy led to HP's $8.8bn loss in the fourth quarter of 2012. HP paid $11bn for …
Anna Leach, 31 Dec 2012
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 …

Speaking in Tech: HP skunks Autonomy - Really, Meg... really?

speaking_in_tech Greg Knieriemen podcast enterprise It's another exciting episode of El Reg's techcast, hosted by Greg Knieriemen, Ed Saipetch and Sarah Vela. This week, Ed returns from his secret mission while Sarah is on a vision quest in New Mexico. The infamous Marc Farley from Microsoft is the special guest... and gives …
Team Register, 21 Nov 2012
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HP: Autonomy had us believing in a false IDOL

HP has laid out the "accounting improprieties and misrepresentations" allegedly used by Autonomy to inflate its value just before HP bought the British biz. Hapless Hewlett-Packard yesterday took an $8.8bn bath on the acquisition following the findings of an internal probe. It said a senior member of Autonomy's leadership team …
Paul Kunert, 21 Nov 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
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

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 “ …
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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

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 …
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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
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
Leo Apotheker photo  by Jacoplane

Apotheker: HP board was just as culpable for Autonomy buy

Leo Apotheker reckons he shouldn't be forced to single-handedly carry the can for HP's calamitous acquisition of Autonomy when there are a bunch of board members that were equally at fault. The man spent 11 short months at the Silicon Valley giant, but this was more than enough to make an indelible mark - his tenure included the …
Paul Kunert, 17 Dec 2012

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
The Register breaking news

HP itching to flog flaccid biz units: Are Autonomy, PSG in firing line?

Hewlett-Packard is considering selling or spinning out its weak business units but warned investors that any deals may not go smoothly. The troubled tech titan stated in its latest paperwork filed to US financial regulator the SEC: “We continue to evaluate the potential disposition of assets and businesses that may no longer …
Gavin Clarke, 02 Jan 2013

Hey HP: You may not rate Autonomy, EDS, but buyers do

Potential buyers are probing Hewlett-Packard over EDS and Autonomy, according to reports. Bloomberg reports that HP has received an “increase in enquiries” following a recent regulatory filing saying it would dispose of businesses that don’t meet goals. The Wall St Journal says overtures have come mainly from other US tech …
Gavin Clarke, 17 Jan 2013
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

HP's fraught union with Autonomy bears first fruit

HP has announced the first offspring of its mammoth $10.24bn (£6.6bn) union with British software firm Autonomy. The progeny, Autonomy IDOL 10, is a platform that pulls data from various sources including phone calls, email, social media and the web together with a company's data – such as customer logs – so it can be processed …
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
Broken CD with wrench

Autonomy slams Oracle's 'Lynch tells whoppers' claim

Autonomy has firmly rejected Oracle's claims it really was shopping itself to Oracle, saying Oracle needs help with its unstructured data, and Autonomy could help. We can't say it any better than Autonomy's statement so here it is for your enjoyment: Last week in response to a question about unstructured information Oracle made …
Chris Mellor, 29 Sep 2011
The Register breaking news

Autonomy engulfs 5-petabyte Iron Mountain cloud

Autonomy is paying $380m for Iron Mountain's archiving and online backup business. The Cambridge-based company said the purchase showed the truth of its prediction of the merging of regulatory archiving and search functions for businesses. The deal adds five petabytes of company data and 6,000 customers to Autonomy's cloud …
John Oates, 16 May 2011
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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
GCHQ Oakley Sign

Brit security startup turns to France for help

British security startup Darktrace has nabbed Andrew France, the former head of the UK government security snoops at GCHQ, as its chief executive. "We are delighted to welcome Andrew to the team," said Darktrace's chief operating officer Stephen Huxter in a canned statement. "Andrew's experience of national cyber operations and …
Jack Clark, 31 Jan 2014
The Register breaking news

Autonomy sews up Interwoven buy

Autonomy is buying its way into the US legal software market by paying $775m for California-based Interwoven. UK-based Autonomy will pay $16.20 in cash per share - a 36 per cent premium on Interwoven's average share price in the last month. Interwoven, listed on Nasdaq, makes content management and compliance software. The deal …
John Oates, 22 Jan 2009
The Register breaking news

City turns up nose at Autonomy's cautious optimism

Autonomy shares bombed more than 10 per cent this morning, after the software firm reported its second quarter results. The Cambridge-based company, which provides search data software, posted Q2 revenue today that it said was in line with expectations with earnings slightly up on that forecast. It reported revenue of $195.2m, …
Kelly Fiveash, 16 Jul 2009
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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
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

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 …
The Register breaking news

Autonomy issues sunny side up forecast

Autonomy expects to see its revenues and profits for 2008 outshine City forecasts. The Cambridge-based firm said in an upbeat trading statement yesterday that despite the current economic doom and gloom rumbling through the High Street and hitting manufacturing, it had “outperformed the company’s expectations”. Autonomy founder …
Kelly Fiveash, 09 Jan 2009
BlackBerry Messenger (BBM)

'The Sims' takes reins of BlackBerry Messenger as old chief Bocking departs

The executive formerly in charge of BlackBerry's BlackBerry Messenger (BBM) division has left the company, casting uncertainty on the Canadian firm's plans for its mobile messaging service. As first reported by tech website BGR, Andrew Bocking, a longtime BlackBerry veteran who had served as executive VP in charge of BBM, has …
Neil McAllister, 10 Feb 2014

Linux-friendly Munich: Ja, we'll take open source collab cloud

The Linux-friendly burghers of Munich are rolling out their own open-source groupware cloud, bucking the trend for going public. The German city has selected Kolab Desktop Client and Kolab web Client for more than 14,000 Linux PCs, surviving Windows PCs and a generation of mobile devices under a four-year project called MigMak, …
Gavin Clarke, 26 Feb 2014