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LONDON (Reuters) - Hewlett-Packard didn't must buy Britain’s Autonomy to solve the U.S. company’s other issues in 2011, its former chief executive told the $5 billion fraud trial of Mike Lynch.
FILE photograph: British entrepreneur Mike Lynch leaves the excessive court docket in London, Britain March 25, 2019. REUTERS/Henry Nicholls/File picture
Lynch is accused of fraudulently inflating the price of Autonomy, which HP bought for $eleven.1 billion and then wrote down by $eight.eight billion a 12 months later. He argues that HP itself, a “substantial but floundering business”, botched the acquisition.
Autonomy become a market chief in application for unstructured data, helping corporations extract the meaning from emails, video or voice calls, that are challenging to investigate in normal ways.
And Leo Apotheker, architect of the deal and HP’s CEO between November 2010 and September 2011, had sought to enhance HP’s languishing profitability by way of integrating its legacy desktop and printer enterprise with higher-margin software.
however the former CEO of Europe’s main enterprise utility group SAP resisted assistance from Lynch’s protection lawyer in London’s excessive courtroom that the acquisition of Autonomy became significant to a desperate method.
“Unstructured facts turned into at the core of your plans,” Robert Miles QC, acting for Lynch, instructed Apotheker, who was known as as a witness in the case.
“No, that’s no longer right, it became a part of the plan,” Apotheker said, including that HP had regarded buying both Autonomy or German community utility AG in the first half of 2011, however decided on the British firm since it would provide the “technological uplift” that HP desired.
It was not clear reduce, Apotheker spoke of:
“taking a look at monetary markets, investors, I believe they'd have favourite software AG,” he said.
Apotheker who spoke of in his witness remark that he had “certainly not instructed the due diligence crew to prioritize due diligence of Autonomy’s technology over its financials”, additionally rejected the concept that HP changed into in disaster.
“but it surely wasn’t doing well. i was very sad with the results but that doesn’t imply the enterprise was about to head under.”
HP is suing Lynch, as soon as hailed as Britain’s answer to bill Gates, along with his former finance chief Sushovan Hussain for greater than $5 billion. Lynch also faces criminal fraud expenses in the u.s., which raise a highest term of 20 years. Hussain has been convicted of fraud in a linked U.S. case.handiest application
at the opening of the case ultimate week, HP’s legal professional Laurence Rabinowitz QC observed the U.S. company believed it became buying a fast-becoming application company without a hardware business.
Apotheker recalled that Lynch informed him Autonomy changed into a “very focused” pure software enterprise once they first met in Palo Alton, California, in April 2011.
He observed he understood that to mean Autonomy’s strategy was pushed via “application and utility handiest”.
HP argues that covertly selling hardware became one of the vital ways that Autonomy inflated its revenue, whereas Lynch’s legal professionals have stated it was commercially justified.
Apotheker become replaced with the aid of Meg Whitman, who planned to refocus the company on its core hardware strengths after an outcry from shareholders over the new approach and a steep decline in HP’s share expense.
Hewlett Packard company in 2015 split into two separate publicly traded groups - HP Inc. and Hewlett Packard enterprise.
Whitman is anticipated to be called as a witness later within the trial, whereas Lynch himself is anticipated to seem round July.
The case is anticipated to final until the end of the yr.
Reporting by Georgina Prodhan and Paul Sandle; editing via Alexander Smith
Dubai: At HP Reinvent, the enterprise’s largest world companion experience, HP outlined its digital transformation agenda, insights-driven go-to-market (GTM) approach and associate enablement enhancements. The technology sales channel is present process a dramatic shift as purchaser and business purchasing habits evolve. aimed toward riding companion growth in 2020 and beyond, the enterprise shared its strategy for navigating the dramatic shifts taking region and arming partners with the notion, potential and knowledge to optimize revenue, streamline charges, and future-proof their businesses.
“The digital transformation of our global economic climate is impacting all sides of enterprise on a worldwide scale from jobs, to exchange policies to give chains,” spoke of Jos Brenkel, world Head of income and strategy, HP Inc. “Our commitment to take purposeful motion is unwavering - making ready ourselves, our companions and our purchasers for what’s coming subsequent.”
To aid partners to directly tap into the vigour of social promoting, HP now presents partners the choice of leveraging advertising and marketing building money to contract LinkedIn revenue Navigators. With LinkedIn sales Navigator, companions can goal the correct patrons, leverage key insights, and customise outreach. partners are encouraged to contact email@example.com for further details.
main the Shift to a capabilities-led enterprise mannequin
valued clientele today are trying to find capabilities-led, non-linear buying experiences, and HP is poised to help its companions transition to these evolving revenue models. customer and commercial consumers alike are relocating straight away towards a sharing economic system and consuming products in fully other ways, which require a shift in opposition t outcomes-primarily based or consumption-pushed fashions.
HP these days introduced a few associate enablement enhancements optimized for its HP As-a-service companions including HP branded finance answer, specialized training, insights on purchasing habits and on-line substances optimized for effect-based strategic selling.
because the industry increasingly strikes to XaaS (every thing-as-a-provider), leasing and financing underpins HP’s approach to capabilities-led promoting—helping the company accelerate its capabilities and options offerings. today the company introduced HP integrated financial solutions, HP’s branded finance solution for presenting HP As-a-service companions with more flexibility to promptly ramp their capabilities-primarily based enterprise and assist ensure lengthy-term, ordinary profits.
HP built-in fiscal options might also give alternatives akin to immediate credit approval, cell apps, computerized doc management, and digital signature and invoicing to speed and increase the consumer journey. HP might be rolling out the software over the coming months, working in partnership with some of the world’s main finance solution providers.
To further help its HP As-a-provider providers, HP currently launched the smart for Channel platform, which makes it easier for companions to entry technical tips, training, how-to videos, provider manuals and advisories. immediately attainable via the companion First portal, the shrewd for Channelmobile-in a position platform includes a tremendously intuitive search potential and simple-access to product selected aid movies.
most efficient-In-type practising – Streamlined
in keeping with associate feedback, HP streamlined HP college, one of the most superior international partner training courses with a couple of enhancements. Optimized to empower and equip the business’s becoming number of HP As-a-service partners, the enterprise has developed its vast practicing and certification fashions to allow outcomes-based mostly strategic selling and greater equip partners to increase and develop their services business and habitual salary move.
§ New adaptive learning approach to certifications throughout laptop, Print, and supplies
§ gentle capabilities modules including Strategic solution selling, looking and Storytelling
§ digital and arms-on content workshops and customized learning paths
HP income valuable – One Seamless experience
To enable a more seamless selling adventure, HP announced the merger of HP’s sales critical(HPSC) and associate First portals into a single unified adventure, offering companions around the world with immediate access to HP substances and a true “click on one and performed” journey. The portal, with a purpose to now are living beneath the HP income valuable Umbrella, additionally facets a totally-intuitive presentation builder and my workspace personalization capabilities.
probably the most interactive new additions to HPSC is a brand new chatbot capability acting as an AI conversational assistant. The HP Chatbot gives solutions to any queries regarding an HP product look for more than 80,000 active SKUs across the HP portfolio, allowing companions to readily navigate products a good deal greater right away - returning between 35-55 minutes per week1.
HP will additionally roll out a new Gamification-as-a-provider feature, available on each the cellular and computing device types of HP revenue crucial. the new application encourages clients to take part in an interactive studying environment complemented with challenges, competitions, rewards, focus and a digital keep to redeem program features. The unified site launches mid-April with full performance of legacy sites all over the calendar year.
variety & Inclusion partner PledgeAs the industry navigates normally changing social and cultural environments, HP remains strongly dedicated to diversity and inclusion (D&I). range ends up in enhanced teams, greater giant innovation, and greater products and features.At HP Reinvent, not simplest will there be a session committed to how partners can take action on expanding D&I of their place of work, partners will even have the chance to sign the ‘D&I Pledge’ – together with a decent evaluation of their present state, and a follow-on practising session on the way to create and set up a D&I plan in their enterprise, and in three hundred and sixty five days re-take the assessment to measure their efforts and improvements.
About HPHP Inc. creates technology that makes life stronger for every person, in every single place. via our portfolio of printers, PCs, mobile instruments, options, and services, we engineer experiences that amaze. extra counsel about HP Inc. is obtainable at http://www.hp.com.
components:1 HP interior calculation in line with ordinary time it takes companions to locate HP assistance on existing website vs time it takes to discover the identical suggestions on the HP Chatbot
Jessica D’SouzaSenior Account executive | Edelman middle Eastm: +97154 305 8825a: #701, level 7, One JLT Buildingp: PO container 49422, Dubai, UAEw: www.edelman.ae© Press liberate 2019
history has no longer been type to Leo Apotheker.
The German-born tech government is premier widespread because the former CEO of Hewlett-Packard, and some of the shortest-tenured bosses in tech after being booted out after simply one year.
His hasty departure got here in 2012 after he and then-chief technology officer, Shane Robison, oversaw HP's $eleven billion acquisition of British software company Autonomy in 2011.
The deal changed into considered overvalued and despatched HP's share expense tanking. typical HP's share rate dropped via roughly 50% beneath Apotheker's management.
study more: inside documents exhibit how HP deliberate on killing unhealthy press over a disastrous $11 billion acquisition
He become out before the deal even closed — with a $10 million severance kit— and HP wrote $8.8 billion off Autonomy's price. it is now suing two of Autonomy's former executives in a $5 billion fraud trial in London's high courtroom.
The Silicon Valley enterprise has accused Autonomy's former CEO Mike Lynch and its former CFO Sushovan Hussain of cooking the books to make Autonomy appear healthier than it in fact turned into. The pair deny the allegations and Lynch has countersued HP.
Former Autonomy CEO Mike Lynch. HENRY NICHOLLS/Reuters
Apotheker seemed as a witness for HP on Monday and, because the leading architect of the deal, his resolution to acquire Autonomy became put below the microscope. In interviews due to the fact stepping down from HP, Apotheker has avoided speakme about Autonomy at all.
Now aged sixty five, the gray-haired, bespectacled Apotheker gave his proof in London's high courtroom, formally wearing a dark blue swimsuit and tie. although on the whole speakme in smooth, German-Belgian accented tones, he sometimes grew to become fiery as he butted heads with Robert Miles QC, Lynch's defence lawyer.
the previous HP CEO attempted, each under cross-examination in court and in his witness statement, to prevent mentioning definitively no matter if he idea Autonomy became fraudulent. however, pressed via Lynch's lawyer, he admitted he notion it became.
requested how an awful lot he had idea in regards to the deal on account that 2011, Apotheker replied: "I do not suppose I mentioned it with many americans, it's not a cheerful memory for me. Have i believed about it? I lived via it."
In his witness statement, Apotheker cautiously notes that he has been requested through HP to settle for its interpretation of the facts: That Autonomy inflated its revenue.
He went on to imply he would have dropped the deal if he'd accepted about Autonomy's alleged accounting considerations. "No such information have been general to me at the time of the acquisition. in the event that they had come to my attention earlier than the Autonomy transaction was closed, i'd were totally suspicious and demanded answers," he referred to, in keeping with his statement.
He added: "If such tips had come to my consideration prior to announcing the deal, I on the other hand suppose it possible that i might have given Autonomy and its leadership an opportunity to explain the discrepancies. If, as appears undoubtedly, the explanation I heard changed into no longer sufficient, l have no doubt that i'd have counseled to HP's Board that it's going to abandon the deal..."
Leo Apotheker's witness remark HP
at the coronary heart of HP's case is the rivalry that Autonomy introduced itself as a "pure" software company, but fudged the place a chunk of its revenues in fact came from. HP argues that Autonomy did this in a number of techniques, such as by promoting hardware reminiscent of laptops, keyboards, and mice, and by mischaracterizing some of its earnings.
attorneys for Lynch have fought the allegations, contending that HP rushed its due diligence and that Autonomy had been open about its hardware sales.
Apotheker denied this in his witness observation. "far from reducing corners, I encouraged the team to pursue the due diligence we felt we necessary," he noted.
in the witness container, Apotheker brought that Lynch had specially sold Autonomy as a software-concentrated business, as opposed to one that additionally relied on hardware sales to make funds.
"[Lynch] spoke of Autonomy changed into a pure-play software company, focused on application," the former HP CEO told the courtroom. "He in short talked in regards to the quality of the company model, at which aspect he did mention it was a very concentrated, pure-play utility company."
At one aspect Miles requested Apotheker why he hadn't read Autonomy's most contemporary economic effects across the time of the deal, asking incredulously: "You did not have 30 minutes?" Apotheker responded: "i used to be running a $a hundred twenty five billion enterprise, sir, and minutes are relatively valuable."
The case continues.
that you could catch up on our full insurance of the trial here.
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Dubai: At HP Reinvent, the company’s largest global partner event, HP outlined its digital transformation agenda, insights-driven go-to-market (GTM) strategy and partner enablement enhancements. The technology sales channel is undergoing a dramatic shift as consumer and commercial buying habits evolve. Aimed at driving partner growth in 2020 and beyond, the company shared its strategy for navigating the dramatic shifts taking place and arming partners with the inspiration, knowledge and expertise to optimize revenue, streamline costs, and future-proof their businesses.
“The digital transformation of our global economy is impacting all facets of business on a global scale from jobs, to trade policies to supply chains,” said Jos Brenkel, Global Head of Sales and Strategy, HP Inc. “Our commitment to take purposeful action is unwavering - preparing ourselves, our partners and our customers for what’s coming next.”
To aid partners to quickly tap into the power of social selling, HP now offers partners the option of leveraging Marketing Development Funds to contract LinkedIn Sales Navigators. With LinkedIn Sales Navigator, partners can target the right buyers, leverage key insights, and personalize outreach. Partners are encouraged to contact firstname.lastname@example.org for additional details.
Leading the Shift to a Services-led Business Model
Customers today are seeking services-led, non-linear buying experiences, and HP is poised to help its partners transition to these evolving sales models. Consumer and commercial customers alike are moving quickly towards a sharing economy and consuming products in completely different ways, which require a shift towards outcome-based or consumption-driven models.
HP today introduced a number of partner enablement enhancements optimized for its HP As-a-Service partners including HP branded finance solution, specialized training, insights on buying behavior and online resources optimized for outcome-based strategic selling.
As the industry increasingly moves to XaaS (Everything-as-a-Service), leasing and financing underpins HP’s approach to services-led selling—helping the company accelerate its services and solutions offerings. Today the company introduced HP Integrated Financial Solutions, HP’s branded finance solution for providing HP As-a-Service partners with more flexibility to quickly ramp their services-based business and help ensure long-term, recurring revenue.
HP Integrated Financial Solutions may provide options such as instant credit approval, mobile apps, automated document management, and electronic signature and invoicing to speed and enhance the customer experience. HP will be rolling out the program over the coming months, working in partnership with some of the world’s leading finance solution providers.
To further aid its HP As-a-Service providers, HP recently launched the WISE for Channel platform, which makes it easier for partners to access technical information, training, how-to videos, service manuals and advisories. Immediately available via the Partner First portal, the WISE for Channelmobile-ready platform includes a highly intuitive search capability and easy-access to product specific support videos.
Best-In-Class Training – Streamlined
Based on partner feedback, HP streamlined HP University, one of the most advanced global partner training programs with a number of enhancements. Optimized to empower and equip the company’s growing number of HP As-a-Service partners, the company has evolved its vast training and certification models to enable outcome-based strategic selling and better equip partners to develop and grow their services business and recurring revenue stream.
§ New adaptive learning approach to certifications across PC, Print, and Supplies
§ Soft skills modules including Strategic Solution Selling, Hunting and Storytelling
§ Virtual and hands-on content workshops and customized learning paths
HP Sales Central – One Seamless Experience
To enable a more seamless selling experience, HP announced the merger of HP’s Sales Central(HPSC) and Partner First portals into a single unified experience, providing partners around the world with immediate access to HP materials and a true “click one and done” experience. The portal, which will now live under the HP Sales Central Umbrella, also features a highly-intuitive presentation builder and my workspace personalization capabilities.
One of the most interactive new additions to HPSC is a new chatbot capability acting as an AI conversational assistant. The HP Chatbot provides answers to any queries related to an HP product search for more than 80,000 active SKUs across the HP portfolio, allowing partners to easily navigate products much more quickly - returning between 35-55 minutes per week1.
HP will also roll out a new Gamification-as-a-Service feature, available on both the mobile and desktop versions of HP Sales Central. The new program encourages users to participate in an interactive learning environment complemented with challenges, competitions, rewards, recognition and a virtual store to redeem program points. The unified site launches mid-April with full functionality of legacy sites throughout the calendar year.
Diversity & Inclusion Partner PledgeAs the industry navigates constantly changing social and cultural environments, HP remains strongly committed to diversity and inclusion (D&I). Diversity leads to stronger teams, more significant innovation, and better products and services.At HP Reinvent, not only will there be a session devoted to how partners can take action on increasing D&I in their workplace, partners will also have the opportunity to sign the ‘D&I Pledge’ – including an honest assessment of their current state, and a follow-on training session on how to create and deploy a D&I plan in their company, and in 12 months re-take the assessment to measure their efforts and improvements.
About HPHP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.
Resources:1 HP internal calculation based on average time it takes partners to find HP information on existing website vs time it takes to find the same information on the HP Chatbot
Jessica D’SouzaSenior Account Executive | Edelman Middle Eastm: +97154 305 8825a: #701, Level 7, One JLT Buildingp: PO Box 49422, Dubai, UAEw: www.edelman.ae© Press Release 2019
Apr 04, 2019 (The Expresswire via COMTEX) -- Multi-Vendor Support Services Market report covers competitor segment, product type segment, end use/application segment and geography segment. With basic overview of industry definitions and industry chain structure.
Multi-Vendor Support Services market report is made by our industry experts to understand the worldwide Multi-Vendor Support Services production, growth rate, consumption, market share, production volume, price, gross margin, and revenue. Our industry experts give the overview of the market by past, present, future demands and opportunities which helps the stakeholders and individuals interested in Multi-Vendor Support Services.
Also, Multi-Vendor Support Services market report gives competitive landscape, product introduction, company profiles, export/import, key factors, new entrants SWOT analysis, and more.
Ask for Sample PDF of Report athttp://industryresearch.co/enquiry/request-sample/14027767
Top Manufacturersof Multi-Vendor Support Services Market:Netapp, Terix Computer Service, Park Place Technologies, Oracle, Citrix, XS International, Dell, ONX, NEC, Evernex, Ensure Services, HP, Symantec, Lenovo, Fujitsu, Computer Data Source (CDS), Microsoft, MCSA Group, Curva, Zensar Technologies, Hitachi, Abtech Technologies, IBM.
Multi-Vendor Support Services MarketSegmentation by Product:
Multi-Vendor Support Services Marketby Applications:
RegionsMentioned in the Report areNorth America, Europe, China, Japan, Middle East and Africa, India, South America, Others.
For More Information or Query or Customization, Visit athttp://industryresearch.co/enquiry/pre-order-enquiry/14027767
Market Dynamics: -
Important Point Included in TOC of Report:
Chapter 1: Multi-Vendor Support Services Market Overview, Product Overview, Market Segmentation, Market Overview of Regions, Market Dynamics, Limitations, Opportunities and Industry News and Policies.
Chapter 2: Multi-Vendor Support Services Industry Chain Analysis, Upstream Raw Material Suppliers, Major Players, Production Process Analysis, Cost Analysis, Market Channels, and Major Downstream Buyers.
Chapter 3: Value Analysis, Production, Growth Rate and Price Analysis by Type of Multi-Vendor Support Services.
Chapter 4: Downstream Characteristics, Consumption and Market Share by Application of Multi-Vendor Support Services.
Chapter 5: Production Volume, Price, Gross Margin, and Revenue ($) of Multi-Vendor Support Services by Regions (2014-2019).
Chapter 6: Multi-Vendor Support Services Production, Consumption, Export and Import by Regions (2014-2019).
Chapter 7: Multi-Vendor Support Services Market Status and SWOT Analysis by Regions.
Chapter 8: Competitive Landscape, Product Introduction, Company Profiles, Market Distribution Status by Players of Multi-Vendor Support Services.
Chapter 9: Multi-Vendor Support Services Market Analysis and Forecast by Type and Application (2019-2024).
Chapter 10: Market Analysis and Forecast by Regions (2019-2024).
Chapter 11: Industry Characteristics, Key Factors, New Entrants SWOT Analysis, Investment Feasibility Analysis.
Chapter 12: Market Conclusion of the Whole Report.
Chapter 13: Appendix Such as Methodology and Data Resources of This Research.
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Name: Ajay More
Phone: US +1424 253 0807 UK +44 203 239 8187
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Multi-Vendor Support Services Market 2019 Suppliers, Major Players, Key Factors, Production, Consumption
It's been more than a week since HP's Touchpad went on sale for $99 and sold out quickly thereafter; the company has recently released updates on the hot-selling device.
In a blog post, Mark Budgell, social media strategist on the HP public relations team, reiterated the company had a great response to the reduced price of the Touchpad. As a result, they are all out of devices and haven't set a clear timetable when more will be available. Budgell said it will be shortly.
HP will keep its consumers updated on the Touchpad's availability with this Web site, www.hp.com/go/touchpad-availability. Originally, HP added a link where users could subscribe to be notified when these products are back in inventory. However, due to high demand, the company took it down.
Meanwhile, Budgell said HP is promising support for the Touchpad, even though the company said it will no longer manufacture the device. He said any existing or future Touchpad consumer will be able to get full customer service on it.
We will honor our product warranties and will continue to provide support via services like the webOS Butler, our free setup support service available to all purchasers of HP webOS products for the first 90 days after purchase. We expect that HP TouchPad owners can look forward to an over-the-air update that will enhance the platform and add functionality and a growing applications catalog, Budgell said.
Despite being a device that's dead in the water, the HP Touchpad has become the second best selling tablet in the burgeoning market. Analysts say this just confirms the iPad is the only credible player since it can sell the tablet for a profit. By selling the Touchpad for $99, HP is losing money on each one sold.
Although some analysts such as Sarah Rotman Epps from Forrester, said the impressive sales from HP show that webOS is a high quality OS and not just selling a cheap product. If it weren't, other cheap Android tablets would be doing just as well. Budgell said the company is also looking for additional ways to leverage the webOS operating system.
Budgell also cleared up some misconceptions on HP's PC business. He said the company wasn't getting out of PCs and remained committed to creating great devices. The company, he said, is simply exploring its options.
We are the world's largest PC manufacturer and, whatever structure we ultimately take, we plan to continue delivering innovative products and stand by you. That means more great products to come, continued service and support - all the things you've told us you value, Budgell said.
Despite Budgell's blog and the company's assertion that its PC business is a Fortune 60 company in of itself, a recent report from Reuters said the company prefers to spin it off.
Follow Gabriel Perna on Twitter at @GabrielSPerna
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