Search
 

Autonomy Acquisition Leads to $8.8 Bln Charge, HP Says

HP blames Autonomy's "willful effort to mislead" before $10.3 bln buy.

By Aaron Ricadela, Bloomberg News | Updated on November 20, 2012

Hewlett-Packard Co. took an $8.8 billion charge citing “a willful effort to mislead investors and potential buyers” at Autonomy Corp., the software company it agreed to purchase last year for $10.3 billion.

“HP is extremely disappointed to find that some former members of Autonomy’s management team used accounting improprieties, misrepresentations and disclosure failures to inflate the underlying financial metrics of the company, prior to Autonomy’s acquisition by HP,” Palo Alto, California-based Hewlett-Packard said today in a statement.

 

Recommended Stories

Verizon Likes Investor Scrutiny of ESG Bonds

Verizon Likes Investor Scrutiny of ESG Bonds

Caleb Mutua |

The company has issued five green bonds, including a $1 billion offering earlier this month. “Added scrutiny ... enables our platform to continue to shine compared to the rest of the market.”

How to Prepare for Prospective Divestitures

How to Prepare for Prospective Divestitures

T&R Staff |

Deloitte managing director Brenda Ciampolillo explores the implications of new research suggesting nearly half of companies will divest a business unit this year.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.