Michael Richard Lynch

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Michael Richard Lynch
Born (1965-06-16) 16 June 1965[1]
Institutions Autonomy Corporation
Hewlett-Packard
Cambridge Neurodynamics
BBC
British Library
NESTA
University of Cambridge[1]
Blinkx plc
UK Business Ambassador
Alma mater Christ's College, Cambridge
Thesis Adaptive techniques in signal processing and connectionist models (1990)
Doctoral advisor Peter Rayner[2]
Known for Autonomy Corporation
Notable awards Order of the British Empire
Fellow of the Royal Academy of Engineering
Michael Richard Lynch, OBE, FREng, DL (born 16 June 1965)[1] is the co-founder of Autonomy Corporation. His entrepreneurship is associated with Silicon Fen. Autonomy is a leader in the area of computer understanding of unstructured information, an area which is becoming known as meaning-based computing. In October 2011, Autonomy was sold to Hewlett-Packard for $11bn.[3]

Early life

He was born in Carrick-on-Suir, County Tipperary, Ireland, in 1965. His family moved to England, where he grew up near Chelmsford, Essex. His mother was a nurse and his father a fireman.[4]

In 1976, aged 11, he won a scholarship to Bancroft's School, Woodford.[5] 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[6] and communications research at the University of Cambridge, and then undertook a research fellowship in adaptive pattern recognition.[7]

Entrepreneurial career

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.[8]

In 1996 Lynch co-founded Autonomy Corporation.[9] and he served Autonomy as CEO. During this time Autonomy acquired Dremedia, Virage ($13m), Verity ($321), Zantaz ($375m) and Interwoven ($606m).[10]

In October 2011 Autonomy was sold to Hewlett-Packard for $11Bn,.[3]

In May 2012, HP fired Mike Lynch.[11]

In February 2013, Lynch raised $1 billion through his Invoke Capital fund to invest in up and coming British technology companies.[12]

In September 2013, Lynch announced Invoke had made its first investment, putting up to $20m into Darktrace, which describes itself as "the world's first behavioural cyber defence platform." [13][14]

Other Interests

In December 2006, he was appointed as a non-executive director to the board of the BBC (British Broadcasting Corporation).[7] He is also on the investment committee and board of the British Library [15]

He is a trustee of NESTA the National endowment for science technology and the arts, and he is chairman of their investment committee.[16] He is also a non-executive Director of Cambridge Enterprise, advising on technology transfer for Cambridge University [17] and a supporter of The Prince's Trust technology group. He is a member of the Council of the Foundation for Science and Technology[18] and on the Enterprise Committee of the Royal Academy of Engineering.[19] Philanthropic interests include being a trustee of the Royal Botanic Gardens, Kew,[20] and a member of the board of the Create the Change Campaign at the Crick Institute, for Cancer Research UK.[21]

He is a non executive director of Blinkx plc and an advisor to the Prime Minister in the area of science policy.[22]

Awards and media coverage

In September 2012 he was inducted into the Digital Hall of Fame, British Interactive Media Association.[23]

He was named Entrepreneur of the Year in 1999 by the Confederation of British Industry and was awarded the Institution of Electrical Engineers medal for outstanding achievement.[24]

Time magazine named Lynch in their 25 most influential technology people in Europe in 2000.[25]

The World Economic Forum presented Lynch with an award for Autonomy as a technology pioneer in 2000.[26] Lynch was awarded an OBE in the 2006 New Year Honours.[27]

He is a Lady Margaret Beaufort fellow of Christ's College, Cambridge.[28]

In 2007, he was awarded Technology Entrepreneur of the year by the European Technology Forum at their 2007 conference.[29]

In March 2008, he was chosen Innovator of the year at the European Business Leader of the year awards 'EBLA'.[30] In June 2008, he was elected a fellow of the Royal Academy of Engineering.[31]

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.[32] In January 2009, Management Today chose him as entrepreneur of the year.[31]

Lynch has twice been a finalist for Investor Relations award of the year.[33] In 2009 he was voted one of the top 25 best CEOs pan sector in Europe by fund managers in the annual Extel survey.[34] He is Deputy Lieutenant of the County of Suffolk.[35] In October 2013 he accompanied the Chancellor, George Osborne, on a trade mission to China.[36]

Press coverage

The Financial Times has described Lynch as "the doyen of European software".[37] PC Advisor has called him "Britain's most successful technology entrepreneur".[38] In a profile in the Sunday Times, it was suggested in passing that Lynch is the nearest thing Britain has to Bill Gates.[39][40][41]

Alleged accounting improprieties

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. [42] These irregularities have been contested.[43]

References

  1. ↑ 1.0 1.1 1.2 "‘LYNCH, Michael Richard’, Who's Who 2012, A & C Black, 2012; online edn, Oxford University Press".  (subscription required)
  2. ↑ "The Quest for Meaning". Wired. February 2000. 
  3. ↑ 3.0 3.1 Profile: Mike Lynch The Guardian, 19 August 2011
  4. ↑ Business big shot: Mike Lynch of Autonomy The Times, 8 July 2008
  5. ↑ OBA President's Report - 2009
  6. ↑ Lynch, Michael Richard (1990). Adaptive techniques in signal processing and connectionist models (DPhil thesis). University of Cambridge. 
  7. ↑ 7.0 7.1 BBC Press Office
  8. ↑ Security Group Seminar University of Cambridge
  9. ↑ The Kindness of Strangers VNU Net
  10. ↑ Autonomy to buy Zantaz for $375m, place shares Reuters, 3 July 2007
  11. ↑ HP fires Mike Lynch PCR, 25 May 2012
  12. ↑ Ben Martin (9 February 2013). "Mike Lynch raises $1bn for technology investment". Telegraph. 
  13. ↑ British tech entrepreneur Lynch invests in cybersecurity firm backed by ex-MI5 boss
  14. ↑ After Autonomy
  15. ↑ British Library
  16. ↑ NESTA Board Members
  17. ↑ One of Britain's Leading Entrepreneurs Joins Cambridge Enterprise
  18. ↑ Foundation for Science and Technology
  19. ↑ Royal Academy of Engineering
  20. ↑ Botanic Gardens, Kew
  21. ↑ Meet the team Cancer Research UK
  22. ↑ Members appointed to Council for Science & Technology 10 Downing Street
  23. ↑ Digital Hall of Fame
  24. ↑ Institute of Engineering Recipients of the Achievement Awards
  25. ↑ "Mike Lynch - Autonomy" Time Europe
  26. ↑ Autonomy Wins Global Technology Award At World Economic Forum
  27. ↑ MBE for Soham murders detective BBC News, 31 December 2005
  28. ↑ Christ's College, Cambridge
  29. ↑ Innovation & Growth Forum
  30. ↑ European Business Leaders Awards website
  31. ↑ 31.0 31.1 Royal Academy of Engineering
  32. ↑ http://www.silicon.com "Agenda Setters 2008"
  33. ↑ Barclays, Cookson and Detica Grand Prix Winners at IR Magazine Awards PR Newswire, 29 June 2009
  34. ↑ Extel Survey: European Investor Relations 2009
  35. ↑ Deputy Lieutenants of the County of Suffolk
  36. ↑ London will offer China more than Singapore can, says Boris Johnson
  37. ↑ Financial Times
  38. ↑ The Thoughts of Autonomy CEO Mike Lynch PC Advisor
  39. ↑ James Ashton "Autonomy is at the heart of a new data revolution" Sunday Times, 1 February 2009
  40. ↑ Profile: Mike Lynch, Autonomy founder The Telegraph, 16 October 2011
  41. ↑ Mike Lynch sells his Autonomy to Hewlett-Packard Real Business
  42. ↑ HP takes $8.8bn charge on Autonomy.
  43. ↑ "Mike Lynch, Autonomy’s Founder, Says He’s Baffled by H.P.’s Claims - NYTimes.com". Retrieved 2012-11-26. 

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