Daily Archives: November 20, 2012

Andrew Hill

“Real business value”, “industry-shifting technology”, “unsurpassed innovation” or “accounting improprieties, misrepresentations and disclosure failures”? Or both?

Hewlett-Packard’s accolades for Autonomy’s technology are drawn from an HP “fact sheet” which is helpfully included in the “related links” HP provides from Tuesday’s withering online statement about an $8.8bn impairment charge. Most of the charge relates, HP says, to alleged improprieties at the UK software company the US group bought last year.

The announcement brings back into the open the sort of concerns that dogged Autonomy as Mike Lynch, its co-founder, built up the business – and that he always dismissed as untrue.