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| Serious Fraud Office to investigate Autonomy, says HP | Serious Fraud Office to investigate Autonomy, says HP |
| (35 minutes later) | |
| The UK's Serious Fraud Office (SFO) is investigating the sale of technology firm Autonomy to Hewlett Packard, according to a filing from HP. | The UK's Serious Fraud Office (SFO) is investigating the sale of technology firm Autonomy to Hewlett Packard, according to a filing from HP. |
| It joins the US Department of Justice and the UK accounting regulator in questioning the firm. | It joins the US Department of Justice and the UK accounting regulator in questioning the firm. |
| HP bought the British firm in 2011 for $10bn (£6.7bn). Last year it claimed the firm had misled them about its financial health, which led it to write off $5bn from Autonomy's value. | |
| Autonomy has denied the allegations. | Autonomy has denied the allegations. |
| HP's filing said: "The UK Serious Fraud Office advised HP that they had also opened an investigation relating to Autonomy. | |
| "HP has provided information to the UK Serious Fraud Office, the US Department of Justice and the SEC related to the accounting improprieties, disclosure failures and misrepresentations at Autonomy that occurred prior to and in connection with HP's acquisition of Autonomy." | "HP has provided information to the UK Serious Fraud Office, the US Department of Justice and the SEC related to the accounting improprieties, disclosure failures and misrepresentations at Autonomy that occurred prior to and in connection with HP's acquisition of Autonomy." |
| A spokesperson for the SFO said, "allegations have been made to the SFO about the circumstances of the sale in 2011 of Autonomy to Hewlett Packard". | A spokesperson for the SFO said, "allegations have been made to the SFO about the circumstances of the sale in 2011 of Autonomy to Hewlett Packard". |
| "The director of the Serious Fraud Office has decided to open an investigation into those allegations, with a view to using its powers of investigation to allow them to be tested." | "The director of the Serious Fraud Office has decided to open an investigation into those allegations, with a view to using its powers of investigation to allow them to be tested." |
| He pointed out that, "the opening of a criminal investigation does not mean that individuals are guilty of a crime or indeed that a crime has been committed". | He pointed out that, "the opening of a criminal investigation does not mean that individuals are guilty of a crime or indeed that a crime has been committed". |
| The SFO also said there had been reports that it uses an Autonomy software product, Introspect, which is a document management tool. | The SFO also said there had been reports that it uses an Autonomy software product, Introspect, which is a document management tool. |
| "The SFO is keen to ensure that there is now no conflict of interest or perception of such a conflict, and it is obliged as a first step to make inquiries to ensure that it can continue as the investigating body. It is undertaking this work at present." | "The SFO is keen to ensure that there is now no conflict of interest or perception of such a conflict, and it is obliged as a first step to make inquiries to ensure that it can continue as the investigating body. It is undertaking this work at present." |
| The US Department of Justice started looking into HP's claims late last year, shortly after the accusations were made. | The US Department of Justice started looking into HP's claims late last year, shortly after the accusations were made. |
| HP holds its annual general meeting in California later this week, where the case is likely to be discussed. | HP holds its annual general meeting in California later this week, where the case is likely to be discussed. |