过去几年,惠普数任首席执行官沉溺于这样的诱惑中:他们试图通过以虚高的价格收购高增长企业,来补充已经成熟的业务,从而恢复高速增长。Autonomy就是一个经典案例:李艾科支付了高得离谱的溢价,以期让惠普走出对硬件业务的依赖。
It is also relatively simple to inflate the value of software companies with sharp accounting. “There is more scope for abuse because you can press a button and record a sale at almost zero cost, says Paul Morland, a technology analyst at Peel Hunt in London. “In other businesses there tends to be more involved, like making and delivering something.
运用精明的会计手段来虚增软件公司的价值也是相对简单的。伦敦Peel Hunt的技术分析师保罗·莫兰德(Paul Morland)表示:“这里存在更大的滥用空间,因为你只要按一下按钮,就能以接近零的成本记录一项交易。在其他企业,交易通常要牵涉更多方面,例如制造和交付某种产品。
Mike Lynch, Autonomy’s founder and former chief executive, insists that HP is making baseless charges and that it spoiled his business after buying it. But the tactics HP accuses Autonomy of using – for example, prematurely recognising the lifetime value of a software licence sale – have been employed by others.
Autonomy创始人、前首席执行官迈克·林奇(Mike Lynch)坚称,惠普的指控是毫无根据的,而且他的企业被惠普收购以后毁掉了。但惠普指控Autonomy采取的手段已为其他企业采用,例如将软件许可销售在整个许可期内的销售价值,提前确认。
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