HP completes Autonomy acquisition

UK software vendor Autonomy is now under the control of HP

Hewlett-Packard has secured enough shares of Autonomy to take control of the UK software company.

Shareholders owning 87 per cent of Autonomy's stock have accepted HP's offer to purchase the company for £25.50 per share, or about $US10.3 billion, HP said in a regulatory filing.

"As such, all conditions relating to the offer have now been satisfied, allowing HP to acquire control of Autonomy," HP said.

HP announced plans to buy Autonomy last month, on the same day it said it would scrap its TouchPad development and consider spinning off its PC business.

The deal, engineered by former CEO Leo Apotheker, was a controversial one, with some saying HP offered too high a price. HP has since appointed a new CEO, former eBay chief Meg Whitman, who has stood behind the deal.

Autonomy is the UK's largest independent software vendor. It makes a broad range of information management products, including software that searches through company documents for compliance and archiving purposes.

It also operates a public cloud that stores petabytes of corporate data. Earlier this year, IDC said Autonomy was one of the fastest-growing search and discovery vendors.

HP said the deal will strengthen its data analytics, cloud and workflow management offerings, and help its customers manage ever-increasing volumes of data. Autonomy will operate as a separate business unit, let by founder and CEO Mike Lynch, who will report to Whitman.

While HP now has control of the company, it said it would leave its offer open "until further notice" so that further stockholders can offer their shares.

James Niccolai covers data centers and general technology news for IDG News Service. Follow James on Twitter at @jniccolai. James's e-mail address is james_niccolai@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesapplicationsAutonomysoftwareHewlett-PackardData managementMergers and acquisitions

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

James Niccolai

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?