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Autonomy Corporation
Autonomy Corporation PLC was an enterprise software company founded in Cambridge, United Kingdom in 1996. The company developed and sold a variety of enterprise software, including for big data analytics, information governance, data protection, and digital marketing.
Autonomy was acquired by Hewlett-Packard (HP) in October 2011, renaming it HP Autonomy. The deal valued Autonomy at $11.7 billion (£7.4 billion). Within a year, HP had written off $8.8 billion of Autonomy's value. HP claimed this resulted from "serious accounting improprieties" and "outright misrepresentations" by the previous management. The former CEO, Mike Lynch, said that the problems were due to HP's running of Autonomy.
HP recruited Robert Youngjohns, ex-Microsoft president of North America, to take over HP Autonomy in September 2012. In 2015, HP was split into HP Inc and Hewlett Packard Enterprise (HPE); HP Autonomy assets were divided between them with HPE taking the larger part. HP Inc later sold its Autonomy content management assets to Canadian software company OpenText in 2016. In 2017, HPE sold its remaining Autonomy assets, as part of a wider deal, to the British software company Micro Focus. In 2023, OpenText acquired Micro Focus, and reunited the two halves of former Autonomy assets.
Autonomy was founded in Cambridge, England by Michael Lynch and Richard Gaunt in 1996 as a spin-off from Cambridge Neurodynamics, a firm specializing in computer-based fingerprint recognition. It used a combination of technologies born out of research at the University of Cambridge and developed a variety of enterprise search and knowledge management applications using adaptive pattern recognition techniques centered on Bayesian inference in conjunction with traditional methods. It maintained an aggressively entrepreneurial marketing approach, and sales controls described as a "rod of iron" - allegedly firing the weakest 5% of its sales force each quarter whilst cosseting the best sales staff "like rock stars".
Autonomy floated in 1998 on the EASDAQ exchange at a share price of approximately £0.30. At the height of the "dot-com bubble", the peak share price was £30.
December 2005: Autonomy acquired Verity, Inc., one of its main competitors, for approximately US$500 million. In 2005 Autonomy also acquired Neurodynamics.
May 2007: After exercising an option to buy a stake in technology start up Blinkx Inc, and combining it with its consumer division, Autonomy floated Blinkx on a valuation of $250 million.
July 2007: Autonomy acquired Zantaz, an email archiving and litigation support company, for $375 million.
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Autonomy Corporation
Autonomy Corporation PLC was an enterprise software company founded in Cambridge, United Kingdom in 1996. The company developed and sold a variety of enterprise software, including for big data analytics, information governance, data protection, and digital marketing.
Autonomy was acquired by Hewlett-Packard (HP) in October 2011, renaming it HP Autonomy. The deal valued Autonomy at $11.7 billion (£7.4 billion). Within a year, HP had written off $8.8 billion of Autonomy's value. HP claimed this resulted from "serious accounting improprieties" and "outright misrepresentations" by the previous management. The former CEO, Mike Lynch, said that the problems were due to HP's running of Autonomy.
HP recruited Robert Youngjohns, ex-Microsoft president of North America, to take over HP Autonomy in September 2012. In 2015, HP was split into HP Inc and Hewlett Packard Enterprise (HPE); HP Autonomy assets were divided between them with HPE taking the larger part. HP Inc later sold its Autonomy content management assets to Canadian software company OpenText in 2016. In 2017, HPE sold its remaining Autonomy assets, as part of a wider deal, to the British software company Micro Focus. In 2023, OpenText acquired Micro Focus, and reunited the two halves of former Autonomy assets.
Autonomy was founded in Cambridge, England by Michael Lynch and Richard Gaunt in 1996 as a spin-off from Cambridge Neurodynamics, a firm specializing in computer-based fingerprint recognition. It used a combination of technologies born out of research at the University of Cambridge and developed a variety of enterprise search and knowledge management applications using adaptive pattern recognition techniques centered on Bayesian inference in conjunction with traditional methods. It maintained an aggressively entrepreneurial marketing approach, and sales controls described as a "rod of iron" - allegedly firing the weakest 5% of its sales force each quarter whilst cosseting the best sales staff "like rock stars".
Autonomy floated in 1998 on the EASDAQ exchange at a share price of approximately £0.30. At the height of the "dot-com bubble", the peak share price was £30.
December 2005: Autonomy acquired Verity, Inc., one of its main competitors, for approximately US$500 million. In 2005 Autonomy also acquired Neurodynamics.
May 2007: After exercising an option to buy a stake in technology start up Blinkx Inc, and combining it with its consumer division, Autonomy floated Blinkx on a valuation of $250 million.
July 2007: Autonomy acquired Zantaz, an email archiving and litigation support company, for $375 million.
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