On the back of HP saying that they’re shutting down their WebOS business, Leo Apotheker decides that he’s going to go back to what he knows…monolithic, galactically expensive, software.
Yep there’s great fit for HP.
They’re in the hole for $1.2 billion over the Palm aquisition and now they want to shell out $10.24 billion to buy Autonomy. A 64% premium.
What is it with these guys? This is supposed to be a cash deal, no stock. Hmmm…they saw young Leo coming.
They get to cash up, big time, and Leo gets to add big software to the HP portfolio. Yet another acquisition to add business to the HP group, we can see how successful thats been in the past.
Looking forward to see how that one is going to turn out for the HP shareholders.
But you can bet that Leo will have cashed out by then and enjoying his life on some sandy beach leaving the HP shareholders to hold the bag.
I like the take that this article has on HP’s PC business. Tells me a lot about how Leo thinks.
He’s a software guy and he’s reverting to type. hardware just isn’t his thing.
I wonder if he would have made this deal if a large part of his bonuses was based on long term performance of the company after this latest cash splurge.
I really think that this isn’t going to end up being the greatest moment in HP’s history.
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