Autonomy gives HP green light

HEWLETT-PACKARD last night completed its $12bn (£7.77bn) buy of British software firm Autonomy, the centrepiece of a botched strategy shift that cost ex-chief executive Leo Apotheker his job last month.

HP said its £25.50-per-share cash offer had been accepted by investors representing 87.34 per cent of the company’s shares, well ahead of the 75 per cent threshold needed.

Autonomy will be delisted and operate as a separate business unit in HP, with Mike Lynch leading the division, the company said yesterday.