HP acquires Autonomy
Hewlett-Packard, an American computer maker, that bought Autonomy, an English software company in 2011, wrote off $8.8 billion of the acquisition value, possibly less than a year later the deal was closed between the two companies. The write off decision lead to war of words between the two groups with HP sacking autonomy founder chairman, Mike Lynch and also its own Chief Executive, Leo Apotheker, who was heading HP at the time of entering the deal. While HP claims that it was the accounting misrepresentation in Autonomy’s books that lead to write down of the acquisition value, Mike Continue reading...
