HP gains control of Autonomy

Oct 03, 2011
Computer maker Hewlett-Packard headquarters in Diegem, Belgium in 2010. Hewlett-Packard said Monday that it has closed its $10.24 billion purchase of British software company Autonomy, a deal which contributed to the downfall of former HP chief executive Leo Apotheker.

Hewlett-Packard said Monday that it has closed its $10.24 billion purchase of British software company Autonomy, a deal which contributed to the downfall of former HP chief executive Leo Apotheker.

The Palo Alto, California-based HP said 87.34 percent of the stockholders of Autonomy had approved the offer for the company made in August.

"As such, all conditions relating to the offer have now been satisfied, allowing HP to acquire control of Autonomy," HP said in a statement.

The Autonomy acquisition positions HP as a "leader in the large and growing enterprise information management space," HP said.

"We are committed to helping our customers solve their toughest IT challenges," HP's new chief executive, , said in a statement.

"The exploding growth of unstructured and structured data and unlocking its value is the single largest opportunity for consumers, businesses and governments," Whitman said.

"Autonomy significantly increases our capabilities to manage and extract meaning from that data to drive insight, foresight and better decision making," she said.

Whitman, the former chief executive of , replaced Apotheker as CEO of HP last month. Apotheker was removed by the board after less than 11 months at the helm.

Apotheker announced the Autonomy acquisition in August as part of a strategic shift by the world's top that also included a possible of its PC unit.

HP shares plunged 20 percent the next day and lost 40 percent of their value during Apotheker's tenure.

Explore further: EU Parliament votes to break up Google

add to favorites email to friend print save as pdf

Related Stories

$13.2 mn for Apotheker, $1 pay for Whitman at HP

Sep 29, 2011

Ousted Hewlett-Packard chief executive Leo Apotheker is leaving with compensation worth at least $13.2 million while his successor, Meg Whitman, will receive an annual salary of $1.

HP shares up on CEO ouster reports

Sep 21, 2011

Hewlett-Packard shares surged on Wall Street on Wednesday amid reports that chief executive Leo Apotheker, hired less than a year ago, could be on his way out.

HP extends offer for Autonomy

Sep 13, 2011

US computer giant Hewlett-Packard said on Tuesday it is extending its $10.24 billion offer for Autonomy as it seeks to bring more shareholders of the British software company on board.

HP shuffles top executives in shake-up

Jun 14, 2011

(AP) -- Hewlett-Packard Co. is streamlining its executive ranks to improve its focus on customers rather than administration and put more operations directly under CEO Leo Apotheker's control.

HP stock hits 6-year low after Whitman named CEO

Sep 23, 2011

(AP) -- Hewlett-Packard Co.'s stock sank Friday to its lowest level in six years, as investors worried that new CEO Meg Whitman isn't the right person to turn the company's fortunes around.

Recommended for you

EU Parliament votes to break up Google

22 hours ago

The European Parliament voted overwhelmingly for the break-up of Google Thursday in a largely symbolic vote that nevertheless cast another blow in the four-year standoff between Brussels and the US Internet ...

Toyota finds new air bag issue, recalls more cars

Nov 27, 2014

Toyota Motor Corp. recalled more than 40,000 vehicles in Japan on Thursday as part of a worldwide scare over defective air bags and is investigating a new type of air bag problem that could lead to further recalls.

Netflix sues Yahoo CIO for alleged kickbacks

Nov 26, 2014

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.