Analýza neúspěšné akvizice společnosti: případová studie HP a Autonomy

This thesis analyzes the failed acquisition of Autonomy by Hewlett-Packard, aiming to identify the key factors that contributed to the transaction’s breakdown. The study is conducted as a case study, based exclusively on publicly available secondary sources. The theoretical part outlines the main areas of failure in mergers and acquisitions, including strategic misjudgments, behavioral biases, insufficient due diligence, integration issues, and institutional and cultural mismatches. Based on this framework, the analytical part examines five main phases of the HP–Autonomy acquisition. In each phase, specific contributing factors are identified and classified into seven analytical categories. The resulting synthesis demonstrates that the failure was systemic in nature, caused by a combination of strategic, procedural, and behavioral deficiencies, ultimately leading to the breakdown of the transaction’s economic and strategic objectives. The thesis also highlights that HP failed to recognize substantial risks in time, despite having the tools and opportunities to do so during the preparation and approval phases of the acquisition.