HP and Autonomy Corporation announced the terms of a recommended transaction under which HP will acquire all of the outstanding shares of Autonomy for £25.50 ($42.11) per share in cash. The transaction was unanimously approved by the boards of directors of both HP and Autonomy. The Autonomy board of directors also has unanimously recommended its shareholders accept the Offer. Based on the closing stock price of Autonomy on August 17, 2011, the consideration represents a one day premium to Autonomy shareholders of approximately 64 percent and a premium of approximately 58 percent to Autonomy’s prior one month average closing price. The transaction will be implemented by way of a takeover offer extended to all shareholders of Autonomy. A document containing the full details of the Offer will be dispatched as soon as practicable after the date of this release. The acquisition of Autonomy is expected to be completed by the end of calendar 2011. Founded in 1996, Autonomy is a provider of infrastructure software for the enterprise with a customer base of more than 25,000 global companies. Positions HP as leader in large and growing space‚Äî Autonomy has a strong position in the $20 billion enterprise information management space, which is growing at 8 percent annually and is uniquely positioned to continue growth within this space. Furthermore, key Autonomy assets would provide HP with the ability to reinvent the $55 billion business analytics software and services space, which is growing at 8 percent annually. Reasons for the acquisition were cited as‚Äî Complements HP’s existing technology portfolio; Provides differentiated IP for services and extensive vertical capabilities in key industries; Provides IPG a base for content management platforms; Enhances HP’s financial profile; as well as Autonomy should be accretive to HP’s earnings. http://www.hp.com/ http://www.autonomy.com/