We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

HP acquires UK software firm for £7.1bn

Autonomy purchase is part of strategy to focus on software

HP has acquired UK software firm Autonomy in a £7.1bn deal.

Autonomy, which is based in Cambridge, was set-up in 1996 and offers software solutions that identify and extract useful information from emails, telephone calls and videos. The software can be used for activities as diverse as suggesting answers for call centre workers to seeking out information to identify attempts at fraud.

Dr Mike Lynch, who founded the firm with Richard Gaunt, will net more than £500m for his eight percent stake in the firm, which is he will continue to lead following its acquisition by HP.

"This is a momentous day in Autonomy's history. From our foundation in 1996, we have been driven by one shared vision - to fundamentally change the IT industry by revolutionising the way people interact with information," said Dr Lynch.

"HP shares this vision and provides Autonomy with the platform to bring our world-leading technology and innovation to a truly global stage, making the shift to a future age of the information economy a reality."

Léo Apotheker, HP's CEO, said Autonomy presented an opportunity to accelerate the strategic vision to decisively and profitably lead a large and growing space.

"Autonomy brings to HP higher value business solutions that will help customers manage the explosion of information."

The deal is part of HP's strategy to focus on software. As part of this strategy HP confirmed it is to stop making tablet PCs, phones and computers.


IDG UK Sites

Windows 9 release date, price, features: Windows 9 beta leaked ahead of 30 September unveiling

IDG UK Sites

Is Apple losing confidence in itself?

IDG UK Sites

The Samsung Gear VR is better than the Oculus Rift (kinda)

IDG UK Sites

How (and where) to buy an iPhone 6 or iPhone 6 Plus in the UK. Plus: What to do if you pre-ordered...