By Ben King, 8 February 2001 16:15
NEWS The complaint stems from comments in investment advice sent to financial institutions by Merrill's technology sales team, according to the Financial Times. Merrill's research allegedly suggests that the software algorithms for a new Microsoft knowledge management product, which would compete with Autonomy's products, were being developed by two former Autonomy staffers. Autonomy chief executive, Mike Lynch has denied the claims. Other rumours were also circulating about the company. One of Autonomy's backers, venture capitalists, Apax Partners, was said to be about to sell part of its stake. Autonomy has also denied this, citing stock exchange regulations which forbid them from doing so until results are published on 15 February. Autonomy shares fell more than ten per cent on the rumours, but began to rebound this morning as investors responded to the firm's robust denial. Yesterday also saw the launch of iVoice, a speech recognition product designed to help users organise large volumes of speech data, such as call centre traffic. General Motors and Dresdner Kleinwort Wasserstein are the first customers.
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