Autonomy CEO And Founder Wins CBI Entrepreneur Of The Year

December 2, 1999 - Dr Mike Lynch, founder and CEO of Cambridge-based Autonomy, Europe's fastest-growing Internet software company, has won the CBI 1999 Entrepreneur of the Year Award.

E-minister Patricia Hewitt presented Dr Mike Lynch, 34, with the award at this year's CBI/Real Business Awards ceremony at the London Hilton, Park Lane, on Wednesday 1 December. Other UK business people shortlisted for the award included Simon Woodroffe of Yo! Sushi and Tony Sullman of Claims Direct.

Ilford-born Lynch borrowed £2,000 from an English eccentric pop promoter in a pub to start Autonomy in 1996. Autonomy floated on Easdaq, the pan-European technology stock exchange, in 1998. In November 1999, the company leapt through the £1 billion market capitalisation barrier to become Britain's most successful Internet related technology company.

Autonomy's software uses intelligent pattern recognition algorithms which allow computers to 'understand' text and analyse huge amounts of information, from emails to newspaper articles, categorise the ideas they contain and build a sophisticated idea of what it is looking atautomatically without human intervention.

Autonomy's technology is based on the work of Thomas Bayes, an 18th century Presbyterian minister which - according the Bill Gates - is helping to create the foundations of the next generation of computing.

Cambridge and California-based Autonomy builds and markets software capable of reading, understanding and reacting to information for knowledge management systems, corporate portals, new media and e-commerce portals. The company operates in nine countries and employs 120 people worldwide.

More than 160 of the world's leading companies are using Autonomy'stechnology to help find and sort information, including the US Department of Defence, News Corporation, Reuters, BBC and most of the UK's police forces.

Commenting after his win, Mike Lynch said: "It's a great achievement to be recognised like this. We've worked extremely hard for three and a half years to grow a business that is now Europe's fastest growing Internet software company.

With the help of all my employees, I am proud to say we are helping to fuel this Country's transformation into an Internet economy with our knowledge management and new media technology."

For interviews, please contact Annabelle @ The RED Consultancy on 0171 465 7776, or Sam Booker on 0171 465 7739.

Notes to editors:

The judging panel included:

Adair Turner, Director General, CBI

Steve Bennett, Managing Director, Software Warehouse

Ronnie Cohen, Chairman, Apax Partners

Mark Dixon, Founder and Chairman, Regus

Prue Leith, Entrepreneur & Vice President of the Royal Society of ArtsProf. John Quelch, Dean, London Business School

Stuart Rock, Editorial Director, Real Business

Entrepreneur of the Year Shortlist:

Tony Sullman, Claims Direct Insurance

Tony Goodwin, Antal International Recruitment Ltd

Simon Woodroffe, Yo! Sushi Food Services

Diljit Rana, JP Property Development

About Autonomy

Autonomy's technology powers large-scale, personalised systems for knowledge management, enterprise portals, new media publishing and electronic commerce. Because of its ability to analyse any piece of text (independent of the document's language) and identify and rank the main ideas, Autonomy can automate a broad range of labour-intensive tasks. These range from categorising information by subject matter, to inserting hypertext links to related material, to profiling users based on the ideas in the text they read or write, to delivering information to those most likely to be interested.

Autonomy was founded in 1996 and has offices in San Francisco, New York, Washington DC and Boston, in the United States as well as in Cambridge (England), Paris, Oslo, Sydney, Frankfurt, Milan, Brussels and Amsterdam. Among its 150 customers are Alcatel, Associated Press, Barclays Bank, British Aerospace, Clorox, News Corp., Procter & Gamble, Lucent Technologies, Merrill Lynch, SF Gate, Semi-tech, The Royal Mail, and Unilever. In addition, several software companies are licensing Autonomy's technology to add intelligence to their online publishing, knowledge management, email routing and document management applications, including SageMaker, FutureTense, Intraspect, Verge, Aeneid, Global Recall, Insight and Nexor.

On July 10, 1998, the company went public on the EASDAQ exchange (Easdaq: AUTN).

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