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Posted at 01:13 PM ET, 08/18/2011

Report: Hewlett-Packard to spin off PC business, buy software company

HP may acquire Autonomy software for $10 billion, Bloomberg reported. Above, HP CEO Leo Apotheker delivers the keynote address at the 2011 HP Summit. (STEPHEN LAM - REUTERS)
Bloomberg reported that Hewlett-Packard is planning to spin off its PC business and acquire software company Autonomy Corp in a $10 billion acquisition.

Citing “people with direct knowledge of the situation,” the report said that HP may make its announcement as soon as today, when it gives its quarterly report.

HP could not immediately be reached for comment.

Autonomy, a British software company, creates products for database search. It is the second-largest software company in Europe.

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