Autonomy

The Autonomy company is founded in 1996 by researchers-mathematicians of the Cambridge university. In 2011 HP purchased software developer for 11 billion dollars. At the time of acquisition of Autonomy had more than 25000 customers and 400 partners worldwide.

In a portfolio of the company over two tens products which can be integrated in functional packets in areas are provided:

• processings of Big unstructured Data, including search;
• security and video surveillances;
• works with social networks and media sources;
• audit and conducting investigations (eDiscovery);
• archiving, document flow, backup;
• marketing and organization of intellectual contact centers.

From the practical point of view of the HP solution of Autonomy are divided into three lines: for data management and information in the organization, risk management and observance of internal security policies, for increase in efficiency of a marketing activity.

One of distinctive features of NR Autonomy is the technology of work with information based on statistical techniques. Use of this approach to data processing provides several advantages, including understanding of information, an automatic categorization and a possibility of creation of cross-language solutions.

The majority of HP solutions of Autonomy use the unique IDOL process module which can accept information more than from 400 systems and support over 1000 types of files that allows to implement solutions of NR Autonomy practically in any IT infrastructure.

The analytical Autonomy tools allow to analyze all corporate data — both machine, and created by the person — irrespective of their format and to transform "zero and units" to clear business logic. The solutions Autonomy are demanded in such areas as a business intelligence, business process management and integration with OEM manufacturing. Besides, Autonomy proposes solutions for such areas as eDiscovery (process of dredging, storage and providing information for auditor and legal needs), management of corporate web content, control of observance the politician, marketing and work with a multimedia content.

History

2020: Deloitte will pay tens of millions for errors in the report of the IT company purchased by HP for $8.8 billion

On July 9, 2020 it became known of the solution of the British Council on financial statements (FRC) to impose a record penalty which size reaches £15 million ($19 million at the rate of at the time of passing a verdict) on consulting company Deloitte. She is accused of repeated assumption of hard errors during audit of Autonomy company. Read more here.

2019: 5 years of prison for the former financial director

On May 13, 2019 the former chief financial officer of Autonomy Sushovan Hussein was sentenced to 5 years of imprisonment for fraud before the conclusion of the transaction within which the company was sold to producer of the computer equipment Hewlett-Packard. Read more here.

2015: HP will pay shareholders $100 million for scandalous purchases not to go under court

In March, 2015 HP submitted a claim the London court the claim against Michael Lynch and the former chief financial officer of Autonomy Sushovan Hussain with the requirement to pay compensation of the caused HP of damage in the amount of $5.1 billion HP accused Lynch and Hussain of the fraud committed by them during work in Autonomy. In response to it Lynch said that the counter action will put forward.

In the summer of 2015 the Hewlett-Packard company agreed to pay to the shareholders compensation in the amount of $100 million in exchange for a withdrawal of the claim connected with acquisition of software developer of Autonomy in 2011. The called compensation amount is 10 times less in comparison with original requirement^[1].

According to conditions of the arrangement, HP will transfer $100 million in special fund then this money will be distributed among shareholders of the company who acquired shares during the period from August 19, 2011 to November 20, 2012. In turn, the claimant undertakes to withdraw all complaints connected with securities concerning current and former top managers of Hewlett-Packard, heads and consultants. Obligation fulfillment will follow after the court considers and will approve the HP solution.

As representatives of HP comment, the company does not admit the guilt. However in HP considered that such outcome will be the best option of succession of events, otherwise the lawsuit can seriously will drag on, and as a result of an effect will be less favorable for all parties.

2014

In December, 2014 Lynch said that to him the document of HP testimonial of the fact that write-off which by HP is forced to be made in 2011-2012 financial year was caused by difference in accounting, but not fraud fell into hands. He once again emphasized that the reporting of Autonomy did not contain any errors.

2012

In November, 2012, after the publication of the financial report and notes made in it, Michael Lynch categorically rejected all charges in the address. He said that he did not receive any formal notices from HP and told that a problem of HP in "bureaucratic delays" and also in inability to purchase the companies. It cited as an example Palm purchased in 2010 for $1.4 billion Hewlett-Packard could not dispose of its assets, having lost the state and having wound up developments of new smartphones.

"Of course, between the European IFRS system (which is used including in Great Britain where there is Autonomy) and the American GAAP there are distinctions — Lynch told then. — However I am absolutely confident that Deloitte did not make any mistake". The consulting agency Deloitte booked quarterly audit of Autonomy.

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