Mike Lynch, the former CEO of Hewlett-Packard Co.’s Autonomy unit, has been confirmed dead after the wreckage of a yacht that sank off the coast of Sicily was found, a reliable source informed CNBC. The body of the British tech entrepreneur, 59, was among five retrieved from the sunken vessel, with his daughter Hannah still unaccounted for. The tragic incident involved the Bayesian superyacht, which capsized while anchored in Porticello, a fishing village in Sicily’s Palermo province.
Lynch was reported missing on Monday among the 22 passengers aboard the yacht. On Wednesday, Salvatore Cocina, head of Sicily’s civil protection agency, verified to NBC News the recovery of five bodies from the wreck. Earlier in the week, Recaldo Thomas, a Canadian-Antiguan chef, was confirmed dead.
As the founder of the enterprise software firm Autonomy, Lynch was embroiled in a lengthy legal feud with Hewlett-Packard after it accused him of inflating Autonomy’s value leading up to its $11.7 billion sale. Following the acquisition, HP took an $8.8 billion write-down. In a surprising turn, Lynch was acquitted of fraud charges in June by a U.S. court after facing wire fraud and conspiracy allegations for supposedly inflating Autonomy’s revenue. He maintained his innocence, attributing the failure to HP’s mishandling of Autonomy’s integration.
In addition to his work with Autonomy, Lynch founded Invoke Capital, a venture capital firm focused on supporting European tech startups. He was a significant figure in the UK technology scene, backing firms like Darktrace in cybersecurity and Luminance in legal tech.
The Italian coastguard has been contacted by CNBC for further information. Awaiting updates, this news continues to develop.
Please check back for more details as the story unfolds.
Original Story https://www.cnbc.com/2024/08/22/british-tech-entrepreneur-mike-lynch-found-in-sicily-yacht-wreckage.html
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