Did Hewlett Packard Overpay for Autonomy?
December 12, 2014
The Economist, the British magazine that calls itself a newspaper, published “The Dozy Watchdogs.” Well, okay. The write up does contain an interesting nugget along the lines of “when you are out you are in and when you are in you are out.” Take that cricket fans.
The snippet in the article that I noted was this bit:
In 2012 Hewlett-Packard wrote off 80% of its $10.3 billion purchase of Autonomy, a software company, after accusing the firm of counting forecast subscriptions as current sales (Autonomy pleads innocence).
What’s 80 percent of $11 billion? In Harrod’s Creek, that’s a big management mistake. HP wrote a check and drove the vehicle off the lot. Yep, let’s blame the auditors, the dozy ones.
Stephen E Arnold, December 12, 2014
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