The UK’s Financial Reporting Council (FRC) has moved to investigate the acquisition of Autonomy by HP, following U.S. investigations.

The investigation will focus on alleged suspect irregularities surrounding the $11.1 billion acquisition of the software company.

Since the buyout Autonomy has failed to deliver strong results, performing significantly below expectations. HP itself has said that it had discovered evidence of significant fraud surrounding accounts, in its fourth-quarter results.

HP and Autonomy founder and former CEO Mike Lynch, who attacked HP’s management of Autonomy, said : “We are fully confident in the financial reporting of the company and look forward to the opportunity to demonstrate this to the FRC."

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