Autonomy

Autonomy was founded in 1996 by mathematics researchers at the University of Cambridge. In 2011, HP acquired a software developer for $11 billion . At the time of the acquisition, Autonomy had over 25,000 customers and 400 partners worldwide.

The company's portfolio includes over two dozen products that can be combined into functional packages in the following areas:

• Processing large, unstructured data, including search
• security and video surveillance;
• work with social networks and media sources;
• Audit and Investigation (eDiscovery)
• archiving, document management, backup;
• marketing and organization of smart contact centers.

From a practical point of view, HP Autonomy solutions are divided into three lines: for data and information management in the organization, risk management and compliance with internal security policies, for improving the efficiency of marketing activities.

One of the distinguishing features of HP Autonomy is information technology based on statistical methods. Using this approach to data processing provides a number of advantages, including understanding information, automatic categorization, and the ability to create cross-language solutions.

Most HP Autonomy solutions use the unique IDOL technology module, which can receive information from more than 400 systems and support more than 1000 file types, allowing HP Autonomy solutions to be implemented in almost any IT infrastructure.

Autonomy's analytical tools allow you to analyze all corporate data - both machine and human-generated - regardless of its format and convert "zeros and units" into understandable business logic. Autonomy solutions are in demand in areas such as business analytics, business process management, and OEM integration. In addition, Autonomy offers solutions for areas such as eDiscovery (the process of extracting, storing, and providing information for audit and legal needs), enterprise web content management, policy enforcement, marketing, and multimedia content management.

History

2024: Autonomy founder dies with wife and partners in victory celebration in HP fraud trial

Main article: Lynch Michael (Michael Lynch)

2020: Deloitte to pay tens of millions for errors in report of IT company bought by HP for $8.8 billion

On July 9, 2020, it became known about the decision of the British Financial Reporting Council (FRC) to impose a record fine, the amount of which reaches £15 million ($19 million at the rate at the time of the verdict) on the consulting company Deloitte. She is accused of repeatedly making serious mistakes during an audit of Autonomy. Read more here.

2019:5 years in prison for former financial director

On May 13, 2019, former Autonomy CFO Sushovan Hussain was sentenced to 5 years in prison for fraud before entering into a deal in which the company was sold to computer manufacturer Hewlett-Packard. Read more here.

2015: HP to pay shareholders $100m for controversial purchases to avoid going on trial

In March 2015, HP filed a lawsuit in a London court against Michael Lynch and former Autonomy CFO Sushovan Hussain demanding compensation for damage caused by HP in the amount of $5.1 billion. HP accused Lynch and Hussein of fraud committed by them while working at Autonomy. In response, Lynch said he would counter-sue.

In the summer of 2015, Hewlett-Packard agreed to pay its shareholders $100 million in compensation in exchange for withdrawing a lawsuit related to the acquisition of software developer Autonomy in 2011. The amount of compensation is 10 times less than the original demand^[1] as^[2].

According to the terms of the agreement, HP will transfer $100 million to a special fund, after which this money will be distributed to the company's shareholders who purchased shares between August 19, 2011 and November 20, 2012. In turn, the plaintiff undertakes to withdraw all securities-related complaints against current and former Hewlett-Packard top managers, executives and consultants. Fulfillment of obligations will follow after the court considers and approves HP's decision.

As HP representatives comment, the company does not admit its guilt. However, HP considered that such an outcome would be the best scenario, since otherwise the litigation could seriously drag on, and as a result the consequences would be less favorable for all parties.

2014

In December 2014, Lynch stated that an HP document had fallen into his hands, indicating that the write-off that HP was forced to make in the 2011-2012 fiscal year was due to a difference in accounting, not fraud. He once again stressed that Autonomy's reporting did not contain any errors.

2012

In November 2012, after the publication of the financial report and the remarks made in it, Michael Lynch categorically denied all accusations against him. It said it had not received any formal notices from HP and said HP's problem was "bureaucratic wires" as well as the inability to acquire companies. He cited Palm as an example, bought in 2010 for $1.4 billion. Hewlett-Packard was unable to dispose of its assets, losing staff and curtailing the development of new smartphones.

"Of course, there are differences between the European IFRS system (which is also used in the UK, where Autonomy is located) and the US GAAP," Lynch said at the time. "However, I am absolutely sure that Deloitte did not make a single mistake." Consulting agency Deloitte conducted a quarterly audit of Autonomy

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