When did HP acquire Autonomy?
2011
HP bought Autonomy in 2011 but a year later it wrote down the value of the British company by $8.8 billion, saying it had uncovered serious accounting improprieties.
How much did HP acquire Autonomy for?
In October 2011, Lynch sold Autonomy to Hewlett-Packard for $11.7 billion (£8.7 billion) as the US tech giant looked to put more of a focus on software and less on hardware. Léo Apotheker was HP’s CEO at the time but he was fired by the board as the controversial deal went through.
Why did HP buy Autonomy?
HP had bought big data firm Autonomy with the aim of making it the centerpiece of a plan to transform HP from a computer and printer maker into a software-focused enterprise services firm, a shift that rival IBM had already pulled off. There was no fraud at Autonomy.”
Why did the merge of HP with Autonomy fail?
#4 – HP & Autonomy But the real bombshell came in 2012 when HP, following an internal investigation, alleged that Autonomy had cooked its books and that the software and company was overvalued at time of purchase. HP wrote down the Autonomy purchase as a nearly $9 billion loss, sending HP’s stock into a tailspin.
Who advised HP to acquire autonomy?
UBS, Goldman Sachs, Citigroup, JPMorgan Chase and Bank of America were also advising Autonomy and were paid $5.4 million each.
Who owns HP autonomy?
Micro Focus
Autonomy Corporation Limited
HP Autonomy/Parent organizations
Does HP still own autonomy?
Though the company is integrating into HP Software, Autonomy remains a separate operational business. In 2017, HP sold its Autonomy assets, as part of a wider deal, to the British software company Micro Focus.
What went wrong with HP and autonomy?
Little more than a year later, HP recorded an $8.8 billion impairment charge, citing Autonomy’s accounting improprieties as the reason. Investors wondered how could HP have gotten it so wrong before they plunked down $11.1 billion in cash? And they wondered what HP uncovered that led to the writedown. Now we know.
What went wrong with HP and Autonomy?
Who advised HP to acquire Autonomy?
Who owns HP Autonomy?
Does HP still own Autonomy?