HP Autonomy, Mr Lynch and UK court
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HP took an $8.8 billion write-down on the purchase in 2012. The Autonomy assets were assumed by HPE, which was spun off from HP in 2015 and moved its headquarters to the Houston area in 2022. The U.K. court ruled that HP was entitled to more than 700 million pounds, nearly $950 million. HPE had sought as much as $4.55 billion in damages.
The 22 July court ruling stated that HP is owed almost £700m due to the difference between the acquisition price of Autonomy and the price based on the company’s true financial position. Reuters reported that HP is also entitled to another $47.5m for losses suffered by Autonomy group companies in relation to hardware sales and other transactions.
A U.K. court has awarded Hewlett Packard Enterprise (HPE) more than £700 million ($900m) in a fraud dispute with the estate of late tech entrepreneur Mike Lynch.