HP completes Autonomy acquisition

03.10.2011
Hewlett-Packard has secured enough shares of Autonomy to take control of the U.K. software company, HP announced Monday.

Shareholders owning 87 percent of Autonomy's stock have accepted HP's offer to purchase the company for £25.50 per share, or about US$10.3 billion, HP said in a regulatory filing.

"As such, all conditions relating to the offer have now been satisfied, allowing HP to acquire control of Autonomy," HP said.

HP to buy Autonomy last month, on the same day it said it would scrap its TouchPad development and consider spinning off its PC business.

The deal, engineered by former CEO Leo Apotheker, was a controversial one, with some saying HP offered too high a price. HP has since appointed a new CEO, former eBay chief Meg Whitman, who has stood behind the deal.

Autonomy is the U.K.'s largest independent software vendor. It makes a broad range of information management products, including software that searches through company documents for compliance and archiving purposes.