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October 03, 2011

HP-Autonomy Deal is Done!

Just in -- HP got the shares committed that it needs to officially own Autonomy. Be sure to read my update about this merger from last week. More information will come soon!

"HP today announced that it has acquired control of Autonomy Corporation," the Palo Alto, Calif. information technology giant stated. "Holders of 213,421,299 Autonomy shares have accepted HP’s previously announced offer to purchase the entire share capital of Autonomy at a price of £25.50 per share in cash... As such, all conditions relating to the offer have now been satisfied, allowing HP to acquire control of Autonomy."

HP's statement continued, "As previously announced, Autonomy will operate as a separate business unit. Dr. Mike Lynch, the founder and chief executive officer of Autonomy, will continue to lead the Autonomy business and will report to [new HP CEO Meg] Whitman.

HP said its offer to purchase the remaining Autonomy shares is open.

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