This only works two ways...
1) Lack of "due diligence" on HP's part.
2) Dodgy accountants / accounts.
3) Both of the above.
Ok, three ways.
Autonomy has come under fire for a software deal between itself, reseller MicroTechnologies, and the Vatican – but all is not as it seems. A report published by Reuters on Friday attempted to shed light on HP-owned Autonomy's strange deal to sell technology worth $11.55m to MicroTechnologies, which was bidding on a contract to …
All we've had from HP so far is FUD nearly all of which is based on absolutely valid IFRS accounting. The only lesson we can take from this so far is that a) HP managemrent doesn't understand GAAP accounting or b) they are just leaking and spinning for all they are worth.
Add in the total lack of corporate governance HP has demonstrated over the last 7 years or so up to and including Meg's powergrab for all 3 C roles and there is only one conclusion.
Something is toxic in HP it has been for years and it still getting worse. The entire board and c suite need to be hauled up on corporate malfeasance charges.
".....Microtech is Autonomy's customer. Autonomy booked the revenue, Microtech paid the invoice, and HP eventually wrote off $2 million....." Yes, because all those customer cases on the Autonomy website only list resellers, no actually 'end customers'. What a load of cobblers! The simplest way to derail the argument that Microtech was the 'customer' would be to look whose name is on the software license contracts.
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