The man once dubbed Britains Bill Gates could be one step closer to a US jail

  • Hewlett Packard is suing Mike Lynch for damages over its deal to buy Autonomy for $11 billion.
  • The U.S. Department of Justice wants him extradited to face trial for criminal charges.
  • CNBC explains what you need to know about Lynch and the HP-Autonomy deal.

Mike Lynch was once described in U.K. media as “Britain’s Bill Gates.” Now the entrepreneur faces potential extradition to the United States.

Lynch, the founder of U.K. tech firm Autonomy, has been released on bail after submitting himself for arrest in London, as U.S. authorities seek to extradite him over fraud charges.

Hewlett Packard is suing the businessman at the U.K. High Court for damages over its deal to buy Autonomy for almost $11 billion in 2011. The tech giant alleges Lynch’s firm fraudulently inflated its value ahead of the takeover.

CNBC takes a look at Lynch’s role in one of the biggest — and most controversial — deals in Britain’s tech industry in recent history.

Source: https://www.cnbc.com/2020/02/06/autonomy-founder-mike-lynch-faces-us-extradition-battle.html

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