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!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsbusiness issuesData managementsoftwareapplicationsHewlett-PackardAutonomy

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

Brand Post

Shining a light on creativity

MSI has long pushed the boundaries of invention with its ever-evolving range of laptops but it has now pulled off a world first with the new MSI Creative 17.

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Ada Chan

Dynabook Portégé X30L-G

I highly recommend the Dynabook Portégé® X30L-G notebook for everyday business use, it is a benchmark setting notebook of its generation in the lightweight category.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?