HEWLETT PACKARD, which is better known as HP around the globe has decided to buy a British Software Company, Autonomy for an estimated $10.24 billion, and could be moving away from being one of the biggest computers making company. The company, which was founded in the year 1939, HP, also said that they would be trying to buy the outstanding share of the British company, Autonomy, for $42.11 per share. They would be handing this amount in cash.

HP has been wise in choosing the right company to buy, Autonomy, as it is an information management software, which also includes various government software’s, data analysis, content management etc. The company serves around 25,000 organizations such as media, telecommunications suppliers, and banking professionals, etc.

There are around 2700 employees that are employed by the company all over the globe. It has its headquarters in UK and San Francisco. HP President and CEO Léo Apotheker was very happy with it and said that it could play a major role in accelerating the growth of its business. According to reports, there were several other companies, who were also interested in the deal such as Oracle and Microsoft. HP seems to be winning the race by a big margin, thus reflecting its serious intent too. These companies are not even in the fray.

Hp seems to be very excited about the deal as they have also decided to kill its Web OS-based phones and the Touch Pad tablet. These gadgets could not meet the expectations of the consumers too compared to other competitors in the market. If the new deal does gets through they would be providing a stiff competition to big companies like IBM, who also sold its computer business to Lenovo in the year 2004.