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HP close to buying Autonomy for $10 bn: Report

Last Updated: Thursday, August 18, 2011 - 23:58

San Francisco: Hewlett-Packard Co plans as soon as Thursday to announce a USD 10 billion acquisition of British software company Autonomy and a spin-off of its personal computer business, the world's largest, Bloomberg reported.

HP could make the announcement on the same day it is due to release quarterly earnings, Bloomberg said, 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 Co among a long list of major corporate customers that use its software to search and organize unstructured data like emails.

Shares of the HP were down 2.9 percent at USD 30.48 at midday.

Bureau Report

First Published: Thursday, August 18, 2011 - 23:58
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