Michael Richard Lynch
|Born||Michael Richard Lynch
16 June 1965 
|Alma mater||Christ's College, Cambridge|
|Thesis||Adaptive techniques in signal processing and connectionist models (1990)|
|Doctoral advisor||Peter Rayner|
|Known for||Autonomy Corporation|
Michael Richard Lynch, OBE, FREng, DL, FRS (born 16 June 1965) is an entrepreneur with a scientific background. He is the co-founder of Autonomy Corporation and the founder of Invoke Capital, and has several other roles, including membership of the Council for Science and Technology which advises the UK government. His entrepreneurship is associated with Silicon Fen. Autonomy is a leader in the area of computer understanding of unstructured information. In October 2011, Autonomy was sold to Hewlett-Packard for $11bn.
In 1976, aged 11, he won a scholarship to Bancroft's School, Woodford. From there he went to Christ's College, Cambridge to study Natural Sciences. He combined mathematics, biological and physical sciences, taking the combination of advanced physics, mathematics and biochemistry in the IB Tripos. For part II, he chose electrical sciences where he first met Dr Peter Rayner, his mentor in the signal processing laboratory of the engineering department. After graduating he went on to do a PhD in signal processing and communications research at the University of Cambridge, and then undertook a research fellowship in adaptive pattern recognition.
He is married and has two daughters.
In the late 1980s Lynch formed Lynett Systems Ltd, producing designs and audio products for the music recording industry including the first ever sampler for the Atari ST, the Lynex, which was followed by the ADAS sampler for Atari, Mac & PC. This led to the offshoot D2D Systems which produced a software-only hard disk recording system for the Atari Falcon.
In 1991 he set up Cambridge Neurodynamics, which specialized in computer-based finger print recognition.
In 1996 Lynch co-founded Autonomy Corporation. and he served Autonomy as CEO. During this time Autonomy acquired Dremedia, Virage ($13m), Verity ($500m), Zantaz ($375m) and Interwoven ($606m).
In October 2011 Autonomy was sold to Hewlett-Packard for $11Bn,.
In May 2012, HP fired Mike Lynch.
In February 2013, Lynch raised $1 billion through his Invoke Capital fund to invest in up and coming British technology companies.
He is a member of the board of Cambridge Enterprise, and a member of the Council for Science and Technology. He is also a member of the Council of the Foundation for Science and Technology and a Hub Mentor in the Enterprise Hub of the Royal Academy of Engineering. Lynch is a trustee of the Royal Botanic Gardens, Kew, and a member of the board of the Create the Change Campaign at the Crick Institute, for Cancer Research UK.
He is a non executive director of Blinkx plc.
He has previously served as a non-executive director to the board of the BBC, on the board of the British Library, and as a trustee of the National Endowment for Science Technology and the Arts (NESTA), where he was chairman of their investment committee.
Awards and media coverage
In September 2012 he was inducted into the Digital Hall of Fame, British Interactive Media Association.
In 2007, he was awarded Technology Entrepreneur of the year by the European Technology Forum at their 2007 conference.
In October 2008, Silicon.com readers voted him one of the top five most influential people in technology along with Tim Berners-Lee, Steve Jobs, Jimmy Wales and Eric Schmidt. In January 2009, Management Today chose him as entrepreneur of the year.
Lynch has twice been a finalist for Investor Relations award of the year. In 2009 he was voted one of the top 25 best CEOs pan sector in Europe by fund managers in the annual Extel survey. He is Deputy Lieutenant of the County of Suffolk. In October 2013 he accompanied the Chancellor, George Osborne, on a trade mission to China.
His nomination for the Royal Society reads
|“||Distinguished as a world leader in the application of non-linear adaptive signal processing and pattern recognition to unstructured information. Founder of Autonomy the UKs largest software company which was sold to HP for $11Bn in 2011. Creator of the Bayesian framework and platform at the heart of Autonomy's products and CEO of the company for 15 years. An inspiration and role model for entrepreneurs particularly in the engineering and technology sectors providing mentoring, enthusiasm, and financing at scale. An advisor to the government and major organisations at the most senior levels.||”|
The Financial Times has described Lynch as "the doyen of European software". PC Advisor has called him "Britain's most successful technology entrepreneur". In a profile in the Sunday Times, it was suggested in passing that Lynch is the nearest thing Britain has to Bill Gates.
Dispute with Oracle
Larry Ellison, the CEO of Oracle, when dealing with Lynch and his colleagues said : "either Mr Lynch has a very poor memory or he is lying". However Lynch was proved right when Frank Quattrone, Autonomy's advisor, confirmed the presentation at the center of the controversy had been his and not given by Lynch as Oracle had asserted.
Dispute with Hewlett-Packard
On 20 November 2012, Hewlett-Packard announced a writedown of assets following the Autonomy purchase due to "disclosure failures and outright misrepresentations at Autonomy", which occurred before the acquisition. The total writedown amounted to $8.8bn of the purchase cost of more than $10bn.  These irregularities have been contested. HP stated a major part of the issue was it was unaware that Autonomy sold hardware, and claimed that this was booked as software and hidden from the auditors.   An FT investigation unearthed documents that show that HP was in fact aware of Autonomy’s hardware sales. They were booked as hardware and were fully disclosed to Deloitte, the Autonomy auditors.
Lynch wrote an open letter to HP’s shareholders, accusing HP of misleading them over the matter. Deloitte have also gone on the record supporting Lynch’s opinion. Lynch and other ex-Autonomy executives have set up AutonomyAccounts.org to provide a platform to voice their rebuttal of criticism.
In August 2014 HP did a deal with law firms suing them on behalf of shareholders over the matter. HP would pay them and they would help HP sue Lynch and the former Autonomy CFO for fraud. The HP deal was objected to by a number of parties and was considered highly suspect as the lawyers were to be paid but not the shareholders. This matter is also under investigation by the UK Serious Fraud Office and the US Department of Justice.
- "LYNCH, Michael Richard". Who's Who 2014. Who's Who (online edition via Oxford University Press ed.). A & C Black an imprint of Bloomsbury Publishing plc. (subscription required)
- "The Quest for Meaning". Wired. February 2000.
- "Dr Michael Lynch OBE FREng FRS". Retrieved 2 May 2014.
- Profile: Mike Lynch The Guardian, 19 August 2011
- Business big shot: Mike Lynch of Autonomy The Times, 8 July 2008
- OBA President's Report - 2009
- Lynch, Michael Richard (1990). Adaptive techniques in signal processing and connectionist models (DPhil thesis). University of Cambridge.
- BBC Press Office
- Biography AutonomyAccounts.org
- Security Group Seminar University of Cambridge
- The Kindness of Strangers VNU Net
- Autonomy to buy Zantaz for $375m, place shares Reuters, 3 July 2007
- HP fires Mike Lynch PCR, 25 May 2012
- Ben Martin (9 February 2013). "Mike Lynch raises $1bn for technology investment". Telegraph.
- British tech entrepreneur Lynch invests in cybersecurity firm backed by ex-MI5 boss
- After Autonomy
- One of Britain's Leading Entrepreneurs Joins Cambridge Enterprise
- Members appointed to Council for Science & Technology 10 Downing Street
- Foundation for Science and Technology
- Royal Academy of Engineering
- Royal Botanic Gardens, Kew
- Meet the team Cancer Research UK
- "Shareholder Information". Blinkx. Retrieved 5 August 2014.
- "Mike Lynch". British Library. Retrieved 6 August 2014.
- "Mike Lynch". NESTA. Retrieved 6 August 2014.
- Digital Hall of Fame
- Institute of Engineering Recipients of the Achievement Awards
- "Mike Lynch - Autonomy" Time Europe
- Autonomy Wins Global Technology Award At World Economic Forum
- MBE for Soham murders detective BBC News, 31 December 2005
- Christ's College, Cambridge
- Innovation & Growth Forum
- European Business Leaders Awards website
- Royal Academy of Engineering
- "Agenda Setters 2008"
- Barclays, Cookson and Detica Grand Prix Winners at IR Magazine Awards PR Newswire, 29 June 2009
- Extel Survey: European Investor Relations 2009
- Deputy Lieutenants of the County of Suffolk
- London will offer China more than Singapore can, says Boris Johnson
- Financial Times
- The Thoughts of Autonomy CEO Mike Lynch PC Advisor
- James Ashton "Autonomy is at the heart of a new data revolution" Sunday Times, 1 February 2009
- Profile: Mike Lynch, Autonomy founder The Telegraph, 16 October 2011
- Mike Lynch sells his Autonomy to Hewlett-Packard Real Business
- "Larry Ellison Of Oracle Calls Autonomy CEO Lying Liar". Gizmodo. 30 September 2011. Retrieved 8 August 2014.
- "Quattrone blasts Ellison, says Autonomy is right". The Register. 30 September 2011. Retrieved 8 August 2014.
- HP takes $8.8bn charge on Autonomy.
- "Mike Lynch, Autonomy’s Founder, Says He’s Baffled by H.P.’s Claims - NYTimes.com". Retrieved 2012-11-26.
- HP Issues Statement Regarding Autonomy Impairment Charge
- Hewlett’s Loss: A Folly Unfolds, by the Numbers
- HP Plunges on $8.8 Billion Charge From Autonomy Writedown
- HP/Autonomy investigation: Tangled web of hardware and resellers
- Open letter from Mike Lynch to the shareholders of Hewlett-Packard
- "AutonomyAccounts.org". Retrieved 2014-02-22.
- "Dealpolitik: More Evidence of Broken Shareholder Litigation System". Retrieved 5 August 2014.
- "HP and Autonomy battle escalates as lawsuit against Mike Lynch and former Autonomy exec looms". City AM. 5 August 2014. Retrieved 5 August 2014.