The acquisition positions hp as a leader in the large and growing enterprise information management space autonomy's software offerings power more than 25,000 customer accounts worldwide and, as part of hp, will provide high-value business solutions to help customers manage the explosion of unstructured and structured information. The telltale sign of the opentext + hp teamsite acquisition came late in 2015 when hp made the decision to reside the interwoven/autonomy assets under hp inc and not hp enterprise (451 subscription required, h/t matt mullen. The likelihood for errors in these measurements can lead to material complications for the financial statements, as in the case for hewlett-packard's (hp) acquisition of autonomy hp used the income approach to measure the value of autonomy, which is the focus of this study in accounting measurement challenges. Unpicking the autonomy acquisition reveals some interesting nuggets that better explain hp's decision to acquire this analysis paints a positive picture so could be wrong time will tell. Hp is extremely disappointed to find that some former members of autonomy's management team used accounting improprieties, misrepresentations and disclosure failures to inflate the underlying financial metrics of the company, prior to autonomy's acquisition by hp.
As chief executive of hewlett-packard, léo apotheker oversaw its acquisition of autonomy, the british software company, in 2011 credit credit thomas lohnes/dapd news agency, via associated press. Hp and autonomy corporation plc have announced plans for hp (through an indirect wholly-owned subsidiary, hp spv) to acquire all of the outstanding shares of autonomy for £2550 ($4211) per share in cash the transaction was approved by the boards of directors of both hp and autonomy, and the. Hewlett-packard co is planning a sweeping overhaul of its businesses, agreeing to buy autonomy corp for $103 billion and weighing a breakup that would unravel the much-debated compaq computer.
On august 18, 2011, hewlett packard, under the leadership of then-ceo léo apotheker, announced a friendly acquisition of uk-based autonomy, a market leader in the management of structured and unstructured data for business management solutions, for $111 billion this acquisition attracted. Hp's ceo meg whitman told cnbc her company depended on deloitte's audited financial statements of autonomy when they performed their due diligence during the acquisition process. Hewlett-packard has secured enough shares of autonomy to take control of the uk software company, hp announced monday shareholders owning 87 percent of autonomy's stock have accepted hp's offer. Hewlett-packard's acquisition last year of the british software maker autonomy for $111 billion may be worse than time warner, toni sacconaghi, the respected technology analyst at sanford. Hpe was hp's software division that included the misbegotten, ludicrously overpriced $117 billion acquisition in 2011 of autonomy corporation, an enterprise software company based in the uk at the time, hp executives were desperate to transition the company to software.
Hp - autonomy acquisition 1 hp company background - hewlett packard company (hp) hewlett-packard company (hp), incorporated on 11 february 1947, is a provider of. Hp and autonomy: a strategic misfire rob hemsath strayer university contemporary business bs508 dr antoinette bridges may 19, 2014 abstract hewlett packard's 2011 acquisition of autonomy corporation proved to be disastrous for the company's financial status and reputation. Hp's acquisition of autonomy was supposed to form the central part of the us group's move into software, but the plan fell apart after the disastrous deal cost hp shareholders billions of. In papers [pdf] filed with the uk high court on thursday, lynch once again pointed the finger at hp's own mismanagement of its 2011 acquisition of autonomy as the reason for the deal's breakdown.
Hewlett-packard is in talks with deloitte over a potential settlement with the big four auditor concerning its role in the disastrous takeover of the british software company autonomy hp this. Hewlett-packard looks to finally have found a way out of its disastrous $11bn acquisition of british software group autonomy hewlett packard enterprise, the it company that split from hp's. If this was making an acquisition that wasn't material to hp, then overriding the cfo was an acceptable risk but overriding the cfo for what was clearly a very material acquisition was exceptional and i believe, at this scale, an unacceptable risk.
Hewlett-packard writing down almost all of its $11 billion acquisition of software firm autonomy is a big question among investors, writes therese poletti. Hp bought autonomy in 2011 partly for its business search engine technology but the $117 billion acquisition has been beset by issues tied to autonomy's accounting hp ceo meg whitman has said that autonomy misled hp about the state of its business before the acquisition, causing hp to overpay for it. Highly complementary acquisition provides leadership position in large and growing space expected to be accretive to non-gaap earnings per share for hp shareholders in the first full year. Summary the acquisition of autonomy could help hp become competitive in the growing market for information management capabilities but hp must resolve challenges in integrating and marketing autonomy's distinctive point of view.