HP Buys Data Analytics Firm Autonomy for $10.3bn

Technology giant Hewlett-Packard (HP) has acquired data analytics specialist Autonomy in a share purchase deal worth $42.11 per share in cash, making the total transaction worth about $10.3 billion.

Founded in 1996, Autonomy develops software which allows computers to form a contextual understanding of any piece of electronic data, including unstructured information such as text, e-mail, web pages, voice and video.

This software powers a range of applications such as pan-enterprise search, customer interaction solutions, information governance, records and process management, web content and rich media management and video and audio analysis.

Leo Apotheker, HP President and CEO, says that the acquisition represents an opportunity for his firm to increase its presence in the enterprise information management space.

'Autonomy brings to HP business solutions that will help customers manage the explosion of information,' he states. 'Together with Autonomy, we plan to reinvent how both unstructured and structured data is processed, analyzed, optimized, automated and protected. We believe this will squarely position HP to create the next-generation information platform.'

The transaction has been unanimously approved by the Boards of Directors of both HP and Autonomy, and the latter's Board has also unanimously recommended its shareholders accept the offer. It is anticipated that the acquisition will be completed by the end of calendar 2011.

Following the acquisition, Autonomy founder and CEO Dr Mike Lynch will continue to lead the firm's team of scientists and employees, while Autonomy will continue to operate independently.

Web sites: www.hp.com and www.autonomy.com .