How Can We Help?
HP looks to acquire software firm
Hewlett-Packard has made a £7.1 billion offer to take over a British company specialising in enterprise software.
Autonomy was set up in 1996 in Cambridge and has gone on to become one of the UK's most successful technology firms.
The company develops software solutions for a range of business needs - from data search and multi-media processing, to compliance and risk management.
It has an extensive global network of clients - including big brands such as Shell, Ford, Nestle and Toshiba - with 2,700 people employed in the US and UK.
The deal is subject to shareholder approval but if it goes through, Autonomy founder Dr Mike Lynch will secure more than £500 million from his stake.
He will also continue to lead the company, while HP will be able to diversify its IT and infrastructure solutions for businesses.
Dr Lynch said: "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."
Copyright © Press Association 2011
