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Autonomy/HP

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Benjamin Royce
Benjamin Royce

Autonomy was a software company that specialized in managing unstructured data like text, email, HTML, and audio/video files. It provided enterprise search, business intelligence, CRM, and knowledge management solutions. Major customers included Citibank, BAML, Bloomberg, Tesco, USPS, and the EU Commission. HP acquired Autonomy with the goal of becoming a leader in next-generation analytics, but later had to write off $8.8 billion of the acquisition due to accounting irregularities at Autonomy. Meg Whitman blamed the problems on accounting issues that occurred before the acquisition and said auditors like Deloitte and KPMG were responsible for missing the issues during due diligence.

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HP/ AUTONOMY Benjamin Royce IKNS 2013
WHAT DOES AUTONOMY DO 1 2 3 4 5 Unstructured data Examples Meaning Enterprise Search Relative to other entities Business Intelligence Text Customer Relationship Management (CRM) Email Knowledge Management (KM) HTML Intelligent Document Processing SQL Query results Compliance and Litigation Video Audio Benjamin Royce IKNS 2013
WHO USED AUTONOMY 1 2 3 4 5 Private Sector Citibank BAML Bloomberg Tesco Public USPS EU Commission UK MoD Benjamin Royce IKNS 2013
HP INITIATIVE 1 2 3 4 5 I am really excited about this acquisition. It really positions HP as a leader in the Next- generation information management and analytics capabilities, as the explosion of data is making these capabilities absolutely critical. Autonomy is a unique asset. It has a remarkable ability to manage unstructured information in a way that no one else in the market does. I think that adds a lot of value not only in their space but actually across HP. -- Meg Whitman, HP Thomson StreetEvents. "Hewlett-Packard Q4 2011 Earnings Conference Call Transcript" Benjamin Royce IKNS 2013
HP EARNINGS 1 2 3 4 5 The majority of this impairment charge is linked to serious accounting improprieties, disclosure failures, and outright misrepresentations that occurred prior to HP's acquisition of Autonomy -- Meg Whitman, HP Who's responsible internally for the acquisition? -- Ben Reitzes, Barclays Capital The Board relied on audited financials, audited by Deloitte, not brand X accounting firm but Deloitte and, by the way, during our very extensive due diligence process, we hired KPMG to audit Deloitte -- Meg Whitman, HP Thomson StreetEvents. "Hewlett-Packard Q4 2012 Earnings Conference Call Transcript" Benjamin Royce IKNS 2013
DISCUSSION QUESTIONS 1 2 3 4 5 What were the gaps of intentions at the two firms? What did they missed in terms of KM/leadership? What role could a knowledge strategist have in M&A transactions? Could a knowledge strategist have prevented this loss? How? Benjamin Royce IKNS 2013

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Autonomy/HP

  • 2. WHAT DOES AUTONOMY DO 1 2 3 4 5 Unstructured data Examples Meaning Enterprise Search Relative to other entities Business Intelligence Text Customer Relationship Management (CRM) Email Knowledge Management (KM) HTML Intelligent Document Processing SQL Query results Compliance and Litigation Video Audio Benjamin Royce IKNS 2013
  • 3. WHO USED AUTONOMY 1 2 3 4 5 Private Sector Citibank BAML Bloomberg Tesco Public USPS EU Commission UK MoD Benjamin Royce IKNS 2013
  • 4. HP INITIATIVE 1 2 3 4 5 I am really excited about this acquisition. It really positions HP as a leader in the Next- generation information management and analytics capabilities, as the explosion of data is making these capabilities absolutely critical. Autonomy is a unique asset. It has a remarkable ability to manage unstructured information in a way that no one else in the market does. I think that adds a lot of value not only in their space but actually across HP. -- Meg Whitman, HP Thomson StreetEvents. "Hewlett-Packard Q4 2011 Earnings Conference Call Transcript" Benjamin Royce IKNS 2013
  • 5. HP EARNINGS 1 2 3 4 5 The majority of this impairment charge is linked to serious accounting improprieties, disclosure failures, and outright misrepresentations that occurred prior to HP's acquisition of Autonomy -- Meg Whitman, HP Who's responsible internally for the acquisition? -- Ben Reitzes, Barclays Capital The Board relied on audited financials, audited by Deloitte, not brand X accounting firm but Deloitte and, by the way, during our very extensive due diligence process, we hired KPMG to audit Deloitte -- Meg Whitman, HP Thomson StreetEvents. "Hewlett-Packard Q4 2012 Earnings Conference Call Transcript" Benjamin Royce IKNS 2013
  • 6. DISCUSSION QUESTIONS 1 2 3 4 5 What were the gaps of intentions at the two firms? What did they missed in terms of KM/leadership? What role could a knowledge strategist have in M&A transactions? Could a knowledge strategist have prevented this loss? How? Benjamin Royce IKNS 2013