Industry Information technology Website www.autonomy.com Founded 1996 Parent organization Hewlett-Packard | Area served Global CEO Robert Youngjohns (2012–) Headquarters Cambridge, United Kingdom | |
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Fate Acquired by Hewlett-Packard Key people Robert Youngjohns (SVP & General Manager) Products Big data analytics, information governance, data protection and digital marketing Founders Michael Richard Lynch, Richard Gaunt, David Tabizel Subsidiaries Yield Software, Inc., ZANTAZ, Inc. | ||
Hp autonomy
HP Autonomy, previously Autonomy Corporation PLC, is a multinational enterprise software company founded in Cambridge, United Kingdom in 1996.
Contents
- Hp autonomy
- Inception and expansion
- Hewlett Packard
- Products and services
- HAVEn Big Data Platform
- Offices
- References
Originally, the company specialised in analysis of large scale unstructured "big data", becoming the UK's largest and most successful software business by 2010. It used a combination of technologies born out of research at the University of Cambridge and developed a variety of enterprise search and knowledge management applications using adaptive pattern recognition techniques centered on Bayesian inference in conjunction with traditional methods. It maintained an aggressively entrepreneurial marketing approach, and controls described as a "rod of iron", which was said to include zero tolerance and firing the weakest 5% of its sales force each quarter, while cosseting the best sales staff "like rock stars".
Autonomy was acquired by Hewlett-Packard (HP) in October 2011. The deal valued Autonomy at $11.7 billion (£7.4 billion) with a premium of around 79% over market price that was widely criticized as "absurdly high", a "botched strategy shift" and a "chaotic" attempt to rapidly reposition HP and enhance earnings by expanding the high-margin software services sector. Within a year, major culture clashes became apparent and HP had written off $8.8 billion of Autonomy's value. HP claims this resulted from "accounting improprieties, misrepresentations and disclosure failures" by the previous management, who in turn accuse HP of a "textbook example of defensive stalling" to conceal evidence of its own prior knowledge and gross mismanagement and undermining of the company, noting public awareness since 2009 of its financial reporting issues and that even HP's CFO disagreed with the price paid. External observers generally state that only a small part of the write-off appears to be due to accounting mis-statements, and that HP had overpaid for businesses previously.
HP recruited Robert Youngjohns, ex-Microsoft president of North America, to take over HP Autonomy in September 2012, and since that time, has worked towards a turnaround through expanding its information management and analytics software business. Though the company is integrating into HP Software, Autonomy remains a singular operational business.
In 2016, HP agreed to sell its Autonomy assets, as part of a wider deal, to the British software company Micro Focus.
Inception and expansion
Autonomy was founded in Cambridge, England by Michael Lynch, David Tabizel and Richard Gaunt in 1996 as a spin-off from Cambridge Neurodynamics, a firm specializing in computer-based finger print recognition.
Autonomy floated in 1998 on the NASDAQ exchange at a share price of approximately £0.30. At the height of the "dot com bubble", the peak share price was £30.
December 2005: Autonomy acquired Verity, Inc., one of its main competitors, for approximately US$500 million. In 2005 Autonomy also acquired Neurodynamics.
May 2007: After exercising an option to buy a stake in technology start up Blinkx Inc, and combining it with its consumer division, Autonomy floated Blinkx on a valuation of $250 million.
July 2007: Autonomy acquired Zantaz, an email archiving and litigation support company, for $375 million.
October 2007: Autonomy acquired Meridio Holdings Ltd, a UK company based in Northern Ireland that specialised in Records Management software, for £20 million.
28 May 2008: Kainos extended its partnership with Autonomy for high-end information processing and Information Risk Management (IRM) to deliver information governance solutions to its customer base.
January 2009: Autonomy acquired Interwoven, a niche provider of enterprise content management software, for $775 million. Interwoven became Autonomy Interwoven and Autonomy iManage.
In 2009 Paul Morland, a leading analyst, started raising concerns about Autonomy's exaggerated performance claims.
June 2010: Autonomy announced that it was to acquire the Information Governance business of CA Technologies. Terms of the sale were not disclosed.
5 May 2011: The Mercedes Formula One team announced an $8 million sponsorship deal with Autonomy, and on 8 July 2010 Tottenham Hotspur FC announced a two-year sponsorship deal with Autonomy for their Premier League kit. For the 2011–12 season Spurs' Premier League shirt featured Autonomy's Augmented Reality technology Aurasma.
16 May 2011: Autonomy acquired Iron Mountain Digital, a pioneer in E-discovery and online backup solutions provider, for $380 million from Iron Mountain Incorporated.
Hewlett Packard
18 August 2011: Hewlett Packard announced that it would purchase Autonomy for US$42.11 per share. The transaction was unanimously approved by the boards of directors of both HP and Autonomy and the Autonomy board recommended that its shareholders accept the offer. On 3 October 2011 HP closed the deal, announcing that it had acquired around 87.3% of the shares for around $10.2 billion, and valuing the company at around $11.7 billion in total.
May 2012: Mike Lynch left his role as Autonomy CEO after a significant drop in revenue in the previous quarter.
September 2012: Robert Youngjohns was appointed SVP & GM of Autonomy/Information Management Business Unit.
November 2012: Hewlett-Packard announced that it was taking an $8.8 billion accounting charge after claiming "serious accounting improprieties" and "outright misrepresentations" at Autonomy; its share price fell to a decades' low on the news. However, Mike Lynch counter-alleged that the problems were due to HP's running of Autonomy, citing "internecine warfare" within the organization. The Serious Fraud Office (United Kingdom), and the U.S. Securities and Exchange Commission joined the FBI in investigating the potential anomalies. However, in January 2015 the SFO closed its investigation as the chance of successful prosecution was low. Three lawsuits were brought by shareholders against HP, for the fall in value of HP shares. In August 2014 a United States district court judge threw out a proposed settlement, which Autonomy's previous management had argued would be collusive and intended to divert scrutiny of HP executives' own responsibility and knowledge, for a fee of up to $48 million. As of 2014 the dispute is still being litigated.
November 2013: the HP Exstream customer communication management (CCM) business, formerly part of the HP LaserJet and Enterprise Solutions (LES) business, joined the HP Autonomy organization.
30 January 2014: the company announced that one of its partners, Kainos, integrated HP IDOL 10.5, the new version of HP Autonomy’s information analytics engine, into Kainos's electronic medical record platform, Evolve.
31 October 2015: Autonomy's software products are divided between HP Inc (HPQ) and Hewlett Packard Enterprise (HPE) as a result of the Hewlett-Packard Co separation. HP Inc is assigned ownership largely consisting of Autonomy's content management software components including TeamSite, Qfiniti, Qfiniti Managed Services, MediaBin, Optimost, and Explore. Hewlett Packard Enterprise retains ownership of the remaining software.
2 May 2016: OpenText acquires HP TeamSite, HP MediaBin, HP Qfiniti, HP Explore, HP Aurasma, and HP Optimost from HP Inc for $170 million.
Products and services
HP Autonomy products include Intelligent Data Operating Layer (IDOL), which allows for search and processing of text taken from both structured data and unstructured human information—including e-mail and mobile data—whether it originates in a database, audio, video, text files or streams. The processing of such information by IDOL is referred to by Autonomy as Meaning-Based Computing.
HP Autonomy's offerings include:
The API platform for building data rich applications. Haven OnDemand features a wide range of APIs for indexing and performing analytics on a range of information from plain text and office documents through to audio and video.
A ease to use and quick to deploy Enterprise Search solution built onto of the Haven OnDemand API Platform.
HAVEn Big Data Platform
In June 2013, HP announced the HAVEn platform for analyzing and finding meaning from big data - petabytes of structured and unstructured information. HAVEn also aims to identify information that is not needed and can be placed in low cost storage or even dumped.
Components of the platform include:
In January 2014, HP released a new version of HP IDOL that strengthens integration with several key components of the HAVEn platform by expanding upon IDOL’s analytics, reliability and ease of use. CMSWire reported that the new release has "a lot under the hood here that will catapult IDOL firmly into the center of the big data fray."
Offices
The HP Autonomy business has primary offices in Cambridge and Sunnyvale, California, as well as other major offices in the UK, the US, Canada, France, Japan, Australia, Singapore, Germany, and smaller offices in India and throughout Europe and Latin America.