UPDATE: Divers have now found the body of the 59-year-old businessman. Her daughter Hannah was also found in the rubble.

Technology entrepreneur Mike Lynch has been missing since yesterday morning after his yacht Bayesian sank off the coast of Sicily. Fifteen people on board were rescued, one person was found dead. Six people are still missing, including Lynch himself.

According to eyewitnesses and local media, the cruise ship was anchored about 300 meters from the port when it was suddenly hit by a powerful storm. Tornado-like conditions were reported, possibly caused by a waterspout. The Italian coast guard launched a large-scale search and rescue operation.

Mike Lynch, founder of software company Autonomy, is a leading figure in the British technology world. HP’s 2011 $11 billion acquisition of Autonomy quickly spiraled into a bitter legal battle that lasted for years and severely damaged the reputations of both parties. HP accused Lynch and other former Autonomy executives of inflating the company’s finances to artificially raise selling prices. This would lead to a massive write-down of $8.8 billion by HP one year after the acquisition.

Lawsuits

Lynch denies all allegations and claims that HP itself caused the problems through mismanagement and misunderstanding of Autonomy technology. The lawsuit dragged on for years, both in Britain and the United States. In 2022, a British judge ruled that Lynch was indeed guilty of fraud and misleading HP. He was ordered to pay $5 billion in damages.

However in the US court case surrounding this issue, Lynch was acquitted of all charges in 2023. This created a complicated legal situation, with Lynch found guilty in the UK but not in America. The controversy between Lynch and HP has gripped the tech world for years and greatly damaged the reputations of both parties. It also sparked discussions regarding due diligence on major acquisitions and the responsibilities of corporate executives.

Photo: Wikimedia Commons | Royal Society

By Marcel Debets