Mike Lynch, former chief government officer at Hewlett-Packard Co.’s Autonomy unit, talking at a convention on Thursday, April 25, 2013.
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LONDON — British tech entrepreneur Mike Lynch is lacking after the sinking of a superyacht off the coast of Sicily, sources aware of the matter instructed CNBC.
The sources, who most popular to not be named as a result of sensitivity of the state of affairs, mentioned that Angela Bacares, Lynch’s spouse, was confirmed as having been rescued.
The superyacht, known as the Bayesian, capsized at round 5 a.m. native time whereas anchored off the coast of Porticello, a small fishing village situated within the province of Palermo in Italy, in keeping with numerous media stories.
The vessel was reportedly struck by an unexpectedly violent storm.
Lynch, 59, was the founding father of enterprise software program agency Autonomy. He turned the goal of a protracted authorized battle with Hewlett Packard after the U.S. tech big accused him of inflating Autonomy’s worth in an $11 billion sale.
HP took an $8.8 billion writedown on the worth of Autonomy inside a yr of shopping for it.
Lynch was extradited from Britain to the U.S. final yr to face trial over the HP allegations. In June, he was acquitted of fraud fees following the trial, which lasted for 3 months.
This can be a breaking information story and is being up to date.
