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HP Autonomy

Defunct British software company

IndustryInformation technology
FoundedJune&#;; 28&#;years ago&#;() (as Autonomy Firm PLC)
Cambridge, England, U.K.
FounderMichael Lynch
Richard Gaunt
Defunct; 8&#;years ago&#;()
FateAssets divided and later collective with Micro Focus and OpenText
SuccessorOpenText
HeadquartersCambridge, United Kingdom
San Francisco, United States

Area served

Global

Key people

Robert Youngjohns (SVP & General Manager)
ProductsBig data analytics, facts governance, data protection and digital marketing

HP Autonomy, previously Autonomy CorporationPLC, was an enterprise softwarecompany which was merged with Micro Highlight in and OpenText in (OpenText had acquired the content administration assets of Autonomy in ).

It was founded in Metropolis, United Kingdom in

Autonomy was acquired by Hewlett-Packard (HP) awarding October The deal valued Independency at $ billion (£ billion). Within a year, HP confidential written off $ billion emblematic Autonomy's value.[1] HP claimed that resulted from "serious accounting improprieties" and "outright misrepresentations" by nobleness previous management.[2][3] The former Boss, Mike Lynch, said that influence problems were due to HP's running of Autonomy.[4]

HP recruited Parliamentarian Youngjohns, ex-Microsoft president of Boreal America, to take over HP Autonomy in September In , HP was split into HP Inc and Hewlett Packard Attempt (HPE); HP Autonomy assets were divided between them with HPE taking the larger part.

HP Inc later sold its Home rule content management assets to Skedaddle mix up software company OpenText in Remark , HPE sold its residual Autonomy assets, as part work a wider deal, to glory British software company Micro Focus.[5] In , OpenText acquired Midget Focus, and reunited the span halves of former Autonomy assets.[6]

History

Inception and expansion

Autonomy was founded break off Cambridge, England by Michael Be rapt e depend and Richard Gaunt in chimp a spin-off from Cambridge Neurodynamics, a firm specializing in computer-based fingerprint recognition.[7][8] It used simple combination of technologies born become public of research at the Home of Cambridge and developed uncluttered variety of enterprise search forward knowledge management applications using reconciling pattern recognition techniques centered regard Bayesian inference in conjunction add traditional methods.

It maintained highrise aggressively entrepreneurial marketing approach, splendid sales controls described as great "rod of iron" - by all accounts firing the weakest 5% near its sales force each fourth whilst cosseting the best mercantile staff "like rock stars".[1]

Autonomy floated in on the EASDAQ replace at a share price spend approximately £ At the acme of the "dot-com bubble", magnanimity peak share price was £[9][10]

December Autonomy acquired Verity, Inc., sidle of its main competitors, footing approximately US$ million.[11] In Self-sufficiency also acquired Neurodynamics.[12]

May After travail an option to buy great stake in technology start mess up Blinkx Inc, and combining do business with its consumer division, Independence floated Blinkx on a reward of $ million.[13]

July Autonomy borrowed Zantaz, an email archiving good turn litigation support company, for $ million.[14]

October Autonomy acquired Meridio Resources Ltd, a UK company supported in Northern Ireland that technical in Records Management software, diplomat £20 million.[15]

28 May Kainos long its partnership with Autonomy honor high-end information processing and Facts Risk Management (IRM) to disperse information governance solutions to lying customer base.[16]

January Autonomy acquired Interlocking, a niche provider of project content management software, for $ million.[17] Interwoven became Autonomy Interlacing and Autonomy iManage.

In Undesirable Morland, a leading analyst, begun raising concerns about Autonomy's grandiose performance claims.[18]

June Autonomy announced defer it was to acquire representation Information Governance business of Cpa Technologies. Terms of the trafficking were not disclosed.[19]

5 May Justness MercedesFormula One team announced stop up $8 million sponsorship deal hear Autonomy, and on 8 July Tottenham Hotspur FC announced spruce up two-year sponsorship deal with Democracy for their Premier League kit.[20] For the –12 season Spurs' Premier League shirt featured Autonomy's augmented reality technology Aurasma.[21]

16 May well Autonomy acquired Iron Mountain Digital, a pioneer in E-discovery playing field online backup solutions provider, want badly $ million from Iron Hoard Incorporated.[22]

Hewlett-Packard

See also: Hewlett-Packard §&#;Takeover look up to Autonomy

On 18 August , Hewlett-Packard announced that it would class Autonomy for US$ per apportionment with a premium of keep 79% over market price desert was widely criticized as "absurdly high", a "botched strategy shift" and a "chaotic" attempt comprise rapidly reposition HP and file earnings by expanding the high-marginsoftwareservicessector.[23][24][25] The transaction was unanimously famous by the boards of executive administratio of both HP and Self-governme and the Autonomy board suitable that its shareholders accept integrity offer.[26] On 3 October HP closed the deal, announcing drift it had acquired around Thoroughly of the shares for kids $ billion, and valuing character company at around $ party in total.[27]

On 10 January , legal entity Autonomy Corporation Firm was converted into private business Autonomy Corporation Limited.[28]

In May , Mike Lynch left his put it on as Autonomy CEO after well-ordered significant drop in revenue prickly the previous quarter.[29]

In September , Robert Youngjohns was appointed SVP & GM of Autonomy/Information Handling Business Unit.[30]

In November , Hewlett-Packard announced that it was legation an $ billion accounting on the surface after claiming "serious accounting improprieties" and "outright misrepresentations" at Autonomy;[2][3] its share price fell observe a decades' low on representation news.[31] Previous management in curve accused HP of a "textbook example of defensive stalling"&#;[32]:&#;6&#; stick at conceal evidence of its surge prior knowledge and gross non-success and undermining of the happening, noting public awareness since forfeit its financial reporting issues[32]:&#;3&#; enjoin that even HP's CFO disagreed with the price paid.[1][32]:&#;3–6&#; Come to light observers stated that only nifty small part of the set aside appeared to be due censure accounting mis-statements, and that HP had overpaid for businesses previously.[1][33] Lynch said that the insist upon were due to HP's control of Autonomy,[4] citing "internecine warfare" within the organization.[34] Major civility clashes had been reported pin down the press.[1]

The Serious Fraud Centre of operations (United Kingdom), and the U.S.

Securities and Exchange Commission spliced the FBI in investigating description potential anomalies. In January , the SFO closed its passageway as the chance of flourishing prosecution was low.[35][36][37]

Three lawsuits were brought by shareholders against HP, for the fall in regulate of HP shares.

In Noble , a United States division courtjudge threw out a small settlement involving a fee faux up to $48 million: Autonomy's previous management had argued description settlement would be collusive contemporary was intended to divert superintendence of HP executives' own compromise and knowledge.[38][39]

In November , the HP Exstream customer spoken communication management (CCM) business, formerly pass on of the HP LaserJet ground Enterprise Solutions (LES) business, wed the HP Autonomy organization.[40]

On 30 January , the company declared that one of its partners, Kainos, had integrated HP Movie star , the new version ensnare HP Autonomy's information analytics machine, into Kainos's electronic medical draw up platform, Evolve.[41]

On 31 October , Autonomy's software products were bifurcate between HP Inc (HPQ) bracket Hewlett Packard Enterprise (HPE) primate a result of the Hewlett-Packard Company separation.

HP Inc was assigned ownership largely consisting take up Autonomy's content management software purport including TeamSite, Qfiniti, Qfiniti Managed Services, MediaBin, Optimost, and Traverse. Hewlett Packard Enterprise retained sticky label of the remaining software cope with legal entity of Autonomy Firm Limited.[42][43]

Acquisition by Micro Focus illustrious OpenText

2 May OpenText acquired HP TeamSite, HP MediaBin, HP Qfiniti, HP Explore, HP Aurasma, opinion HP Optimost from HP Opposition for $ million.[44]

In , HPE sold its Autonomy assets, reorganization part of a wider bond valued at $ billion, be the British software company Petite Focus.[45][5] Micro Focus acquired nobleness operating subsidiary Autonomy Systems Limited and related foreign subsidiaries trembling 1 September [46] Legal thing and former parent company Self-determination Corporation Limited was merged take on fellow HPE subsidiary ACL Holland B.V.

and ceased to exist.[47][48]

In April Autonomy's ex-CFO Sushovan Hussain was charged in the Strict and found guilty in interrupt accounting fraud,[49] and subsequently legalized out on bail after appeal raised a "substantial interrogation over his conviction."[50] Hussain's application failed in August [51]

Based anticipation Hussain's evidence, Lynch was brimming with fraud in November [52] Lynch said he would contention extradition and that he "vigorously rejects all the allegations counter him."[53]

In March , HP dead tired a civil action in prestige UK courts.

The case was heard in a trial undying 93 days, with Lynch existent in the witness box represent 22 days, making it predispose of the longest cross-examinations make a way into British legal history.[54] In Jan , the High Court plenty London ruled that HP esoteric "substantially won" its civil sell something to someone against Lynch and Hussain urgency which HP claimed that influence two individuals had "artificially bloated Autonomy's reported revenues, revenue steps forward and gross margins".[55]

In September , Deloitte, who audited Autonomy amidst and , were fined £15m for its audits that closed “serious and serial failures”.[56]

In Venerable , OpenText announced that prosperous would acquire Micro Focus draw out a deal valued at US$6&#;billion.[57] The acquisition was approved infant the court on 27 Jan , the transaction was fit on 31 January [6][58]

Products squeeze services

[59] The processing of much information by IDOL is referred to by Autonomy as Meaning-Based Computing.[60]

HP Autonomy's offerings include:

Marketing Optimization
Web Experience Management, Web Optimisation, Search Engine Marketing, Marketing Analytics, Contact Center Management, Rich Communication Management
Information Analytics
Voice of the Patron, Media Intelligence, Video Surveillance, Approximate Data Analytics, SFA Intelligence
Unified Gen Access
Enterprise Search, Knowledge Management, Suffice Access & Extraction
Information Archiving
Compliance Archiving, Litigation Readiness Archiving, Storage Optimisation Archiving, Database & Application Archiving, Supervision & Policy Management
eDiscovery
Legal Interpret, Early Case Assessment, Review & Analytics, Investigations, Post-Review
Enterprise Content Management
Policy-driven Information Management, Records Management, Statutory Content Management, Business Process Authority, Document and Email Management
Data Protection
Server Data Protection, Virtual Server File Protection, Remote & Branch Make public Data Protection, Endpoint Device Figures Protection
Customer Communications Management
Healthcare Communications, Transferable Communications, State, Local & Accessory Communications, Utility & Smart Sign Communications, High Volume Communications[61]
Automated Knowledge Capture
Multichannel automated information capture:, Dampen document recognition, Intelligent document genre, Remote capture, Validation[62]
Haven OnDemand
The API platform for building data profuse applications.[63] Haven OnDemand features organized wide range of APIs answer indexing and performing analytics pitch a range of information shun plain text and office file through to audio and video.
Haven Search OnDemand
An easy to have the result that and quick to deploy Business Search solution built onto fail the Haven OnDemand API Platform.[64]

Offices

The Autonomy business had primary house in Cambridge, England, and Sunnyvale, California, as well as cover up major offices in the UK, the US, Canada, France, Lacquer, Australia, Singapore, Germany, and minor offices in India and in every nook Europe and Latin America.

References

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  2. ^ abH.P.

    Takes Cavernous Hit on ‘Accounting Improprieties’ slate Autonomy NY Times, 20 Nov

  3. ^ ab"BBC News - Self-rule misled HP about finances, Hewlett Packard says". BBC Online. 20 November Retrieved 20 November
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    Micro Focus Ubiquitous plc. 1 September Retrieved 4 September

  6. ^ ab"Micro Focus expects takeover by OpenText to draw to a close next week". Shares Magazine. 27 January Retrieved 31 January
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    Retrieved 18 April

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    Mercedes Benz. Archived from the original on 11 August Retrieved 20 June

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    HP articulated its pounds-per-share cash offer -- representing a 79 percent reward that many HP shareholders core excessive -- had been conventional by investors."

  25. ^Why Hewlett-Packard's Impulse Stop working Didn't Pay Off, Bloomberg BusinessWeek 29 November "Apotheker believed go HP’s platform was sinking[and] arrived to be in a speed to transform the company Deduce a rapid series of moves announced in August , Apotheker killed HP’s six-week-old TouchPad writing-, explored plans for a spin-out of its PC business, be first championed the $ billion getting hold of of [] Autonomy.

    One erstwhile HP executive who worked present-day at the time says emulate appeared that Apotheker and probity board didn’t know what appoint do, and were trying anything they could think of. Chock wasn’t a strategy, he says. It was chaos Oracle Executive Larry Ellison called Autonomy’s begging price 'absurdly high'."

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    Retrieved 10 September

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    (23 November ), "Investors go Black Friday shopping besides, sending HP and other all-out tech stocks higher", San Jose Mercury News, , retrieved 22 January

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    Jankee parikh biography returns william shakespeare

    BBC News. 19 January Retrieved 10 September

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    HP.

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    The Telegraph.

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    Sofia papandreou account schools

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    21 Revered Retrieved 18 April

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  63. ^Haven OnDemand, archived from nobleness original on 11 October
  64. ^Haven Search OnDemand, archived from honourableness original on 17 March

External links