My bet is on an Open Text acquisition – or an attempted Open Text acquisition that gets preempted by another vendor (e.g., Oracle)
The search software group raised the funds for the five-year issue, which will offer a semi-annual coupon of 3.25 per cent, in several hours in London on Wednesday. Combined with its gross cash of $242.5m, it gives Autonomy a warchest of more than $1bn. Shares in the group closed down 88p at £15.22.
Analysts said companies such as Canada’s Open Text, MicroStrategy and Fair Isaac were mentioned as potential deals, although they acknowledged that there had been little speculation surrounding previous Autonomy targets such as Interwoven a year ago and Zantaz in 2007.