Autonomy Bomb Shell: Revenue Miss and Lynch to Exit HP
May 24, 2012
Navigate to “HP Cuts 27,000 Workers.” Here’s the passage I noted:
One person who will be leaving HP is Mike Lynch, the founder of big data software company Autonomy, who came to HP through its $10.24bn acquisition of Autonomy in August 2011 in the short era when Leo Apotheker was CEO at HP. Whitman said that Autonomy had a bad quarter and was disappointing, and added that Bill Veghte, the executive vice president in charge of HP Software as well as the company’s chief strategy officer, will take over Autonomy and that Lynch will leave HP after a transition period. Lynch’s exit follows that of Chris Lynch, the boss of HP’s other big data acquisition, Vertica, who left HP back in March. Whitman said that Autonomy was a “smart acquisition” and a “great product” and that the revenue miss was more a matter of execution than anything else and that it would take a few quarters to fix whatever the problem is.
Interesting.
Stephen E Arnold, May 24, 2012
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