HP expected to bid $10bn for Autonomy
HP reportedly plans to announce a $10 billion acquisition of British software company Autonomy – and may spin off its PC-making business.
The report in Bloomberg said HP could make the announcement today, as it is due to release quarterly earnings, citing sources familiar with the company’s plans.
HP has denied past speculation that it was in discussions to sell or spin off its PC arm, one of its largest divisions but also among the least profitable.
Cambridge-based Autonomy counts Procter & Gamble among a long list of major corporate customers that use its software to search and organise unstructured data like emails.
HP holds more than a fifth of the UK market in terms of PC shipments, according to Gartner.