In the much talked about and controversial deal, Hewlett-Packard finally closed the $12 billion buyout of the British software firm Autonomy.
According to SFGate, share holders of Autonomy accepted the £25.50 per share in cash offer, which was 79 percent more than Autonomy’s share price. The investors who accepted the offer are in possession of 87.34 percent of the company's shares.
Autonomy is a Cambridge, England based software firm that develops software which can search unstructured data like emails, tweets and phone calls which do not fall under the category of traditional databases.
This was one of the radical reforms the then Chief Executive Leo Apotheker announced. Viewed as a centre of botched strategy shift this deal more or less cost Mr. Apotherker his job last month.
This deal sparked further controversy when a spat took space between Autonomy's founder Mike Lynch and HP's rival Oracle last week.
As per the reports, after the takeover Autonomy will be operating as a separate business unit headed by Mike Lynch.
Even though the so-called over priced deal put the credibility and reputation of HP on the line, HP did go through the deal.