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HP reportedly near $10 billion deal for software maker Autonomy

Tech giant HP is also rumored to be selling off its PC business

By , Network World
August 18, 2011 02:37 PM ET

Network World - HP is reportedly set to acquire infrastructure software maker Autonomy for about $10 billion. In addition, HP is rumored to be selling off its PC business, according to a report by Bloomberg.

BUYOUTS: Hottest tech M&A deals of 2011

HP, which is scheduled to hold its third-quarter earnings call late this afternoon, saw its stock rise briefly on the rumors. After opening on Thursday at $29.86, the stock climbed to $34 just after noon EDT and then dropped back down to around $30 within two hours.

Operating out of joint headquarters in Cambridge, U.K., and San Francisco, Autonomy has a portfolio of enterprise search, e-discovery and content management products. Its 25,000 customers include companies such as Bloomberg, Boeing, Citigroup, Coca-Cola, Ford and the New York Stock Exchange, as well as a number of U.S. government agencies, including the Department of Energy, Department of Homeland Security and Securities and Exchange Commission.

Autonomy has grown through several acquisitions in recent years, including its purchases of content management firm Interwoven, for $775 million in 2009; e-discovery firm Zantaz, for $375 million in 2007; and search software maker Verity, for $500 million in 2005.

More recently, Autonomy acquired CA Technologies' information governance business in 2010 for an undisclosed amount, and it picked up digital assets from Iron Mountain in May of this year.

HP isn't the first rumored acquirer of the U.K. software maker. Last year, The Daily Mail reported that Microsoft and Oracle were said to be bidding for Autonomy.

Read more about data center in Network World's Data Center section.

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