Nandini Roy Choudhury, writer
Brief news
- The body of British technology entrepreneur Mike Lynch has been recovered from the wreckage of a yacht that capsized off the coast of Sicily.
- Lynch’s daughter, Hannah Lynch, is still missing and unaccounted for.
- Lynch was the founder of Autonomy and a prominent advocate for the technology sector in the UK.
Detailed news
LONDON — A source familiar with the matter informed CNBC on Thursday that the body of British technology entrepreneur Mike Lynch, 59, has been recovered from the wreckage of a yacht that capsized off the coast of Sicily. This information corroborate the previous reporting by Sky News.
Hannah Lynch, Lynch’s daughter, is still unaccounted for, according to the source, who requested anonymity due to the sensitive nature of the situation. The Italian coast guard had identified five bodies recovered from the disaster, and Sky News had previously reported that Lynch was one of the deceased.
The Bayesian superyacht, which capsized while anchored in the small fishing village of Porticello, in the province of Palermo in Italy, was carrying 22 passengers, including Lynch, who was reported missing on Monday.
Salvatore Cocina, the director of the civil protection agency in Sicily, verified to NBC News on Wednesday that five bodies had been recovered from the yacht’s wreckage. Recaldo Thomas, a Canadian-Antiguan chef, is the sole individual who has been verified deceased by authorities thus far.
CNBC has reached out to the Italian coast patrol and is anticipating a response.
Lynch was the founder of Autonomy, an enterprise software company. Lynch was the subject of a protracted legal dispute with Hewlett Packard after the company accused him of distorting the value of Autonomy in a $11.7 billion sale. Within a year of purchasing the company, HP recorded a $8.8 billion loss on its value.
In June, Lynch was unexpectedly acquitted of fraud allegations in a U.S. court after a three-month trial. He had been accused of conspiracy and wire fraud for allegedly conspiring to inflate Autonomy’s revenue. Lynch denied any malfeasance and informed the jurors that HP failed to integrate Autonomy.
Lynch was also the founder of Invoke Capital, a venture capital firm that supports European technology businesses. He emerged as a prominent advocate for the technology sector in the United Kingdom, endorsing prominent organizations such as cybersecurity firm Darktrace and legal technology firm Luminance.
Lynch’s passing was commemorated with tributes.
Lynch “leaves a legacy as one of the great modern British tech entrepreneurs,” according to Russ Shaw, the originator of technology industry groups Tech London Advocates and Global Tech Advocates.
Shaw stated in an email to CNBC that his capacity to comprehend the potential of technology to address significant challenges and then effectively commercialize it was truly exceptional. “Mike will be deservedly remembered for his contributions to the development of several of the most notable technology companies in the United Kingdom, such as Sophia Genetics, Luminance, and Darktrace.”
Lynch was appointed a fellow of the Royal Academy of Engineering in 2008. The academy’s trustee board, fellows, and personnel expressed their profound condolences to his family upon learning of his passing.
“We have cherished recollections of his active involvement as a fellow in the past, as a mentor, donor, and former Council member.” The academy also announced on the social media platform X that he was one of the inaugural members of the Enterprise Committee. “At this time, our thoughts are with his family and friends.”
Lord John Browne, the former CEO of BP, stated in a post on X that Lynch “should be remembered as the individual who inspired a generation of deep tech entrepreneurs in the United Kingdom.” His ideas and personal vision were a significant contribution to science and technology on a global scale, as well as in Britain.
Source : CNBC News
