HP buys Autonomy for $10B, discontinues TouchPad, looks to sell PC line

Silicon Valley / San Jose Business Journal
Date: Thursday, August 18, 2011, 12:20pm PDT - Last Modified: Thursday, August 18, 2011, 2:59pm PDT

Hewlett-Packard Co . confirmed Thursday that it agreed to acquire Autonomy Corp . for $10.24 billion, and said it is discontinuing its TouchPad line.

Palo Alto-based HP (NYSE:HPQ) -- which said it is also looking to spin off its PC business -- will pay $42.11 per share in cash for Autonomy, a premium of about 64 percent over the company's closing price the previous day.

Founded in 1996, Autonomy provides infrastructure software for the enterprise with a customer base of more than 25,000 global companies, law firms and public sector agencies.

“Autonomy presents an opportunity to accelerate our strategic vision to decisively and profitably lead a large and growing space,â€