Written by News Desk Monday, 06 September 2010 19:56
News - Computing and software
Speculation over a $7.7 billion (£5bn) bid from a US tech giant for Cambridge based Autonomy Corporation are continuing to circulate in the States – triggering the possibility of some turbulent trading on the markets this week.
Autonomy’s share price was up 32p at one stage, then down 29p to 1748 as the rumours refused to go away. The web infrastructure software company’s market cap is currently over $6 bn – £4.23 billion.
Autonomy has its own war chest and has been eyeing some major deals on the other side of the Pond itself. Now the tables may have been turned.
None of the names being hurled into the ring are making any comments.
Founded in 1996 by Dr Mike Lynch, the group chief executive, Autonomy saw its stock take off as it was linked to a potential bid from either of the world's two biggest software companies, Microsoft and Oracle.
The attraction for potential buyers is obvious: A constant stream of multi-million dollar deals have been clinched by the business.
It has just been announced that Clifford Chance – one of the world's leading law firms, with 29 offices in 20 countries and some 3,200 legal advisers – has chosen Autonomy Introspect, a top-ranked processing, review and production solution for complex litigation and regulatory investigations.
The company has become a world beater by utilizing a unique combination of technologies borne out of research at Cambridge University.
Here it comes!!!!!
