According to Reuters, Autonomy sold 45.7 million Blinkx shares at 120 pence per share in a deal valued at £54.8m, a five per cent discount on its closing price this evening, yet around 40 per cent above the price in August 2011 when HP committed to buying Autonomy.
That's a tidy profit of £16m depending on timing of the sale says the FT, though not a patch on the £5.5 billion HP later wrote off the value of Autonomy amid claims that its pre-acquisition management had misled investors in an effort to inflate its worth, claims that have been strenuously rejected by Lynch and the former Autonomy team.
That tussle is yet to be resolved and currently sits in the hands of the Serious Fraud Office among others. For now, Lynch remains a director and the largest individual shareholder in Blinkx, the video search company established in 2004 on the back of an exclusive licence from Autonomy to target consumer markets so Autonomy could remain focused on enterprise solutions.
blog comments powered by Disqus