HP Sues Autonomy…Again
August 27, 2014
We thought that HP and Autonomy had settled their differences and were moving towards building new products, but they are not. ZDNet says that “HP To Sue Former Autonomy CFP Over Bungled Acquisition Settlement.” What is HP upset about now when it comes to Autonomy? It turns out that former Autonomy chief financial officer Sushovan Hussain did not want to pony up the money HP was owed after its three lawsuits with HP were settled. The lawsuits were supposed to end the quarrels.
After HP bought Autonomy, they discovered the company was than truthful about its star product line. It was purchased for $11.7 billion, but HP had to write down $8.8 billion when they discovered the fib. Autonomy still does not want to pay for the damages and Hussain is avoiding the settlement.
“In a court filing on Monday, HP said that it was ‘ludicrous’ that he should be “permitted to intervene and challenge the substance of a settlement designed to protect the interests of the company he defrauded,” according to the Reuters news agency. But Hussain said that should a judge approve the settlement, HP would be able to ‘forever bury from disclosure the real reason for its 2012 write-down of Autonomy.’”
Here is to hoping the arguments settle soon, because it is really ruining the concept of enterprise search. Think about it, if Autonomy’s enterprise search products did not work as advertised, what is the value of other companies?
Whitney Grace, August 27, 2014
Sponsored by ArnoldIT.com, developer of Augmentext
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