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HP Autonomy, previously Autonomy Corporation PLC, was an enterprise software company which was merged with Micro Focus in 2017 and OpenText in 2023 (OpenText had acquired the content management assets of Autonomy in 2016).
HP wrote down Autonomy's value by $8.8 billion within a year of the acquisition. Assistant U.S. Attorney Robert Leach told jurors on Monday they should have no reasonable doubt there was fraud at ...
HP, led by CEO Léo Apotheker at the time, paid $11 billion for Autonomy, but later claimed losses of $4 billion from the deal because of alleged fraudulent statements and financial shenanigans ...
That topic was central to federal fraud charges that Lynch faced in relation to the sale of his software company Autonomy to the U.S. tech giant Hewlett Packard. He was acquitted in a San ...
Mike Lynch, once hailed as Britain’s king of technology, has been cleared of charges alleging he orchestrated a fraud and conspiracy leading up to an $11 billion deal that turned into a costly ...
Apotheker initially saw Autonomy as a key piece of his plan to lessen HP’s dependence on selling PCs and printers during the advent of the smartphone. Evidence presented at the trial indicated that HP had internally valued Autonomy at as much as $46 billion, primarily because of its software that helped other businesses quickly find valuable ...
But in late 2012, HP stunned Wall Street and the City of London by alleging a massive accounting scandal at the business, and writing off $8.8 billion of its value.
The charges filed in a court in San Francisco carry a maximum penalty of 20 years in prison and include 14 counts of conspiracy and fraud. Lynch co-founded Autonomy in 1996 and served as its CEO.