Articles about Mike Lynch

Mike Lynch's cybersec biz Darktrace hoovers up $65m in VC dosh

Darktrace, the machine-learning cybersec outfit backed by one-time Autonomy CEO Mike Lynch, has pulled in another $65m in VC funding. Lynch previously founded enterprise search firm Autonomy, which was sold to HP and ultimately cost that company $8.8bn in impairment and other charges. This led Patrick White, the head of start- …

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 …
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
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

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 …
Kat Hall, 18 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
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
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 …
Neil McAllister, 12 Sep 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 …
apothekerCHANGES2

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 …
Neil McAllister, 12 Aug 2014
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, 1 Jul 2014

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

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 …

'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

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