Articles about Mike 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, 01 Oct 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

Ex-Autonomy chief Mike Lynch's Darktrace bags £12.6m from investors

Darktrace, the Cambridge-based cyber security company backed by the billionaire superyacht-owner Mike Lynch, has raised $18m (£12.6m) from investors. The latest funding round includes a cash injection from Invoke Capital, Lynch’s venture fund that was one of Darktrace’s first backers. It has also bagged funds from Talis Capital …
Kat Hall, 18 Mar 2015
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

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 …
Neil McAllister, 02 Oct 2015

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 …
Neil McAllister, 06 May 2015

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

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

'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
Mike Lynch

Lynch and his Autonomy inner circle depict selves as crime kingpins

Vid 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

'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 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 HP …
Kat Hall, 09 Jun 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 twice …
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 "outright …
Kat Hall, 19 Jan 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

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

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, 07 Oct 2015

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

'Can you hear me now? Oh Peeple, you're so mean *sad face*. It's a leftist agenda!'

QuoTW This week we remembered Seymour Cray, memorialised BlackBerry 10 and got a peek at Elon Musk's new baby. So let's take a look at some of the best quotes from the past seven days. It's been a shitty couple of weeks for Volkswagen, thanks to the ballooning emissions scandal. But don't worry, the German car giant's board of …
Team Register, 04 Oct 2015
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
Terror at 20,000 feet

'Everywhere I look ... it's bad': HP claims email shows Autonomy CFO panic, pre-buyout

In the latest court filing in HP's rancorous legal squabble with former Autonomy execs, the tech giant has revealed what it describes as a damning email from ex-Autonomy CFO Sushovan Hussain, prompting a spokesperson for the latter to again accuse HP of "smear tactics." HP is seeking to settle a lawsuit brought by its own …
Neil McAllister, 06 Sep 2014

HP says it will sue former Autonomy CFO Sushovan Hussein

HP has confirmed that it plans to sue Sushovan Hussain, the former chief financial officer of data analytics software firm Autonomy, whom HP claims "was one of the chief architects of the massive fraud" that forced HP to write down $8.8bn of the $10.2bn it paid to acquire Autonomy in 2011. In documents [PDF] filed with the US …
Neil McAllister, 04 Aug 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 …
Gun and dollars

Ex-Autonomy execs: HP's latest wad blows apart fraud allegations

Another week, another round in the ongoing bunfight between HP and the former management team of Autonomy. This time, the ex-Autonomy bods have claimed that new court documents filed by HP prove the latter has misrepresented the reasons why it had to write down $8.8bn in its botched acquisition of Autonomy in 2011. In a lengthy …
Neil McAllister, 12 Sep 2014

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

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
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 …
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, says it aims to provide "relevant …
Neil McAllister, 04 Dec 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
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

Autonomy ex-moneyman: 'Visionary' Léo would have made HP merger work

The former chief financial officer of Autonomy has struck back against HP's claims that he defrauded it and its shareholders, arguing that HP's execs were solely responsible for bungling the company's $10.2bn acquisition of Autonomy in 2011. "HP's Opposition swells with bile, but its sound and fury signify nothing," lawyers for …
Neil McAllister, 12 Aug 2014
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 “ …

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
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

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 …

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

Analysis 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
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

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

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 …
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
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
The Register breaking news

HP loses Vertica big data boss

Chris Lynch, the boss of HP's Vertica subsidiary, has walked the plank. Vertica and its real time data analytics software was bought by HP in April 2010 for about $350m, according to SiliconAngle. This was then HP CEO Leo Apotheker's first software purchase. It was followed by the 2011 Autonomy acquisition, Apotheker's …
Chris Mellor, 19 Mar 2012
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 …

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
HP CEO Meg Whitman

Reg man grills HP Software big cheese

Traditionally HP Software was seen by many of its business partners on the hardware side of the house – and by default some of their customers – as a fragmented portfolio of specialist applications amassed via acquisition. Evidence of this was on display at Global Partner knees-ups in recent years when the auditorium filled up …
Paul Kunert, 18 Aug 2014

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

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 …

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

Unions urge under-fire HP workers to 'resist' job cuts

Unite and the Public Services Commercial (PCS) unions will form a tag team to "use every means possible" to safeguard the jobs of 1,600 HP UK employees under risk of redundancy. The tech monster revealed late last night that it is hitting the eject button for 27,000 workers worldwide – including Autonomy founder Mike Lynch – by …
Paul Kunert, 24 May 2012

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