UK regulators end fraud probe into HP's Autonomy acquisition

A U.S. investigation into the sale of Autonomy to HP is ongoing

U.K. regulators have closed their investigation into Hewlett-Packard's botched acquisition of Autonomy, a British software company that HP has accused of inflating its value and of improper accounting.

The Serious Fraud Office, the U.K. government department that investigates and prosecutes fraud, bribery and corruption, "has concluded that, on the information available to it, there is insufficient evidence for a realistic prospect of conviction," the department said Monday. The SFO did not say on what basis it made its decision to close its investigation.

Jurisdiction over the investigation has been ceded to U.S. authorities, whose investigation is ongoing, the U.K. department said.

HP bought Autonomy in 2011 partly for its business search engine technology. But the $11.7 billion acquisition has been beset by issues tied to Autonomy's accounting. HP CEO Meg Whitman has said that Autonomy misled HP about the state of its business before the acquisition, causing HP to overpay for it. HP took an $8.8 billion charge as a result of what HP called serious accounting improprieties that occurred at Autonomy before HP acquired it.

HP shareholders filed suit in 2012. In 2013, the U.K.'s SFO began its investigation into the sale of Autonomy to HP.

Now, Autonomy is off the hook, at least in the U.K.

"As the SFO made clear, the U.S. authorities are continuing their investigation and we continue to cooperate with that investigation. HP remains committed to holding the architects of the Autonomy fraud accountable," an HP spokeswoman said Monday via email.

The U.S. Department of Justice did not immediately respond to a request for comment, while a spokesman for the U.S. Federal Trade Commission, which investigates fraud, deception and unfair businesses practices in the U.S., declined to comment.

Zach Miners covers social networking, search and general technology news for IDG News Service. Follow Zach on Twitter at @zachminers. Zach's e-mail address is zach_miners@idg.com

Join the newsletter!

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

Tags Internet-based applications and servicesAutonomyNetworkinglegalCivil lawsuitsinternetHewlett-Packard

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

Zach Miners

IDG News Service
Show Comments

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

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.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?