Lynch backs tech project on M&A due diligence

Mike Lynch, former chief executive of UK software group Autonomy, is backing a British start-up that uses artificial intelligence to help lawyers with due diligence in mergers and acquisitions. Mr Lynch, who had criticised Hewlett-Packard’s handling of due diligence in its disastrous $11.1bn deal to buy Autonomy, is investing through Invoke Capital, his $1bn investment vehicle focusing on European technology. He is providing $3m in funding for Luminance, which uses machine learning to read and understand complex legal information and automate due diligence for dealmaking. “It is not an understatement to say that this is an application of artificial intelligence that will completely transform the due diligence process, which is perhaps long overdue,” he said. HP announced an $8.8bn writedown of the value of Autonomy the year after the 2011…


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