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HP executives were aware of Autonomy’s loss-making hardware sales: FT

18
Feb
2014

(Reuters) – Hewlett-Packard Cos senior executives were aware of Autonomy Corps accounting practices months before a whistle-blower flagged them, prompting HP to write down Autonomy, the Financial Times reported citing email records. Palo Alto, California-based HP has said it was a victim for having paid $11.1 billion to buy Autonomy in 2011. It took a writedown of $8.8 billion in November 2012, accusing Autonomy officials of accounting fraud. Autonomys practice of selling hardware to clients at a loss had been documented by auditors and a report was provided to HP after it bought the British software maker, FT said.

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