Given all the alarms and excursions following yesterday’s announcement of the departure of Mike Lynch, the founder & CEO of Autonomy, and widespread redundancies at the HP Autonomy group, we’ve been doing some digging into what this means for the legal sector – and in particular the iManage document management business. And the short answer is: there is dancing in the iManage streets!
Our sources reveal that…
(1) it was long expected that Lynch would depart with his £800 million after a suitable (about a year in his case) transitional period
(2) that the HP Autonomy group in general is in the throes of a major restructuring and that staff are braced for further upheavals over the next 12 months
(3) that while he was still running the Autonomy division for HP, Lynch was primarily concerned with keeping costs down – which also meant limits on R&D budgets
(4) there are no staff cutbacks in either the UK or US iManage teams – in fact Dan Carmel, who was a VP with the DMS business in its independent and later Interwoven days, has rejoined the company
(5) because the iManage DMS business is part of the most profitable division of Autonomy, the business has been green-lighted for more resources and expansion