Watchdog in software company probe

Press Association

The accounting watchdog has said it had opened an investigation into the software company accused of misleading investors prior to its multibillion-dollar takeover by American giant Hewlett-Packard.

The Financial Reporting Council (FRC) will examine Cambridge-based Autonomy's books in the period between January 2009 and June 2011 - three months before it was bought by the US firm in a £7.1 billion deal.