Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / HP launches first products using Autonomy’s tech
BackBack

HP launches first products using Autonomy’s tech

HP launches first products using Autonomy’s tech

Laptop computers by HP. Photo: BloombergPremium

Laptop computers by HP. Photo: Bloomberg

London: United States (US) group Hewlett-Packard has rolled out its first software using technology gained from its $12 billion acquisition of British group Autonomy, eight weeks after the deal closed.

The new platform processes unstructured information, such as telephone calls, emails and videos, and structured data in databases, making all forms of information searchable, HP’s vice president of information management, Mike Lynch, said.

Laptop computers by HP. Photo: Bloomberg

HP has started selling Autonomy’s technology, used by governments and multinationals, to small and medium-sized firms, he said.

It acquired Autonomy as part of a shift towards higher-margin software that was accelerated with the arrival of former chief executive officer (CEO), Leo Apotheker.

Shareholders were less enthusiastic about Apotheker’s changes, resulting in his ousting in favor of former eBay boss Meg Whitman in September.

Lynch said he was relishing the opportunities available as part of the bigger group and, even after pocketing hundreds of millions of pounds from the deal, he was sticking around.

Many other Autonomy employees also received large payouts.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 29 Nov 2011, 05:19 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App