Mike Lynch, who had just recently won a landmark U.S. fraud trial, was found dead in the wreckage of a yacht that sank off the coast of Sicily. He was 59.
Lynch, who was once laudded by the U.K. press as "Britain's Bill Gates," was the founder of Autonomy, a software company he sold to Hewlett Packard for $11.7 billion in 2011.
Lynch's body was retrieved from the wreckage of the yacht Wednesday, a source familiar with the matter told CNBC Thursday. His daughter, Hannah, remains unaccounted for, according to the source, who asked not to be identified due to the sensitive nature of the situation.Born in Ilford, a large town in East London, to Irish parents in 1965, Lynch grew up near Chelmsford in the English county of Essex. His mother was a nurse and his father was a fireman.
A few years later, in the early 1990s, he founded a fingerprint recognition business called Cambridge Neurodynamics, which counted the South Yorkshire Police among its customers. After the sale of his company to HP, Lynch became known by U.K. national media as "Britain's Bill Gates," serving as a rare example of a U.K. businessman who successfully built and scaled a globally significant tech business selling into various markets around the world.However, Lynch's reputation would go on to take a hit after the deal with HP took a turn for the worse. In 2012, HP took an $8.8 billion write-down on the value of Autonomy — just a year after buying it.
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