Laura Banks
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Laura Banks in Markets and everything in & between!,

Why did computer giant write down a huge acquisition?

The mysterious case of Hewlett-Packard’s Autonomy deal

In November 2012, Hewlett-Packard Co. stunned investors with news that it was writing down almost $9 billion of its $11.1 billion acquisition of the British software company, Autonomy Corp.

H-P HPQ, +0.77% attributed the hefty write-down to “serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy” that occurred prior to H-P’s acquisition.

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