Ex-Autonomy Boss Testifies 'New' Product Was No Pretense

Law360, London (June 27, 2019, 5:26 PM BST) -- The founder of Autonomy on Thursday denied repackaging an existing product as a new tool to flatter the company's financial performance ahead of Hewlett Packard's disastrous acquisition of the British software firm, in his second day testifying at Britain's biggest ever fraud trial.

Mike Lynch, the tech investor once described as Britain's answer to Bill Gates, said a database search product called SPE launched by Autonomy in 2009 was a new product despite being built out of the company's existing technology, known as IDOL, centered on text-heavy unstructured data.

HP claims the launch of SPE was a pretense used to bolster...

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