Andre Yoskowitz
5 Oct 2011 0:10
HP has completed its $12 billion acquisition of software maker Autonomy today, with Autonomy shareholders overwhelmingly voting for the deal which paid an 80 percent premium to the company's closing price before HP offered.
The deal, and how expensive it is, cost CEO Leo Apotheker his job recently after just 11 months on the job.
New CEO Meg Whitman says the Autonomy purchase is "integral" to HP's expected software expansion.
Autonomy will run as a separate business under the lead of founder Mike Lynch.
HP rival Oracle admitted it was also approached as a potential buyer but CEO Larry Ellison, one of the world's richest men, called the price "absurdly high."