Mike Lynch, a prominent British investor and founder of the IT company Autonomy, has been identified as one of the victims recovered from the yacht Bayesian, which sank off the coast of Sicily early Monday morning. The news was confirmed by Salvo Cocina, the chief of Civil Protection in Italy.
Lynch, 57, was traveling with his daughter, Hannah, who has also been identified among the deceased. The yacht, which was registered to Lynch’s wife, Angela Bacares, capsized in the early hours of Monday after being struck by a tornado-like water column. Bacares survived the incident, but the tragedy has claimed several lives.
According to reports, three bodies have been recovered so far, with four more still missing. Among those still unaccounted for are the international chairman of Morgan Stanley, his wife, a New York lawyer who worked with Lynch, and his wife. The search and recovery efforts are ongoing.
The Bayesian was on a voyage celebrating Lynch’s recent acquittal in a U.S. criminal fraud trial. That trial also involved Stephen Chamberlain, a former finance director at Autonomy. In a tragic coincidence, Chamberlain was struck by a car last Saturday and succumbed to his injuries earlier this week.
Lynch, a significant figure in the U.K. technology sector, was often referred to as the “Bill Gates of U.K. tech.” His company, Autonomy, was acquired by Hewlett-Packard (HP) in 2011 for $11 billion, marking one of the largest technology mergers at the time. However, the acquisition quickly turned contentious, with HP suing Lynch and Chamberlain for allegedly misleading the company during the transaction.
HP claimed the deal resulted in a loss exceeding $4 billion and sought to recover this amount from Lynch and Chamberlain. Both Lynch and Chamberlain maintained their innocence, arguing that they were being unfairly scapegoated for a troubled merger.
The legal battles spanned over a decade and included various complications, such as Lynch’s extradition to the U.S. to face criminal charges related to the merger. In a significant development, Lynch and Chamberlain were acquitted of all charges in June after a trial in San Francisco.
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In addition to his legal troubles, Lynch faced a civil case in the U.K. in 2022, which he ultimately lost. Despite these setbacks, Lynch continued to build his profile as a prominent investor. He founded Invoke Capital, which became the largest investor in the cybersecurity firm Darktrace, among other ventures. Invoke Capital also invested in companies like Sophia Genetics, Featurespace, and Luminance.
At the time of his acquittal, Lynch expressed relief and gratitude. “I am elated with today’s verdict and grateful to the jury for their attention to the facts over the last 10 weeks,” Lynch said in June. “My deepest thanks go to my legal team for their tireless work on my behalf. I am looking forward to returning to the U.K. and getting back to what I love most: my family and innovating in my field.”
The sudden loss of Lynch and Chamberlain is a significant blow to their families, friends, and colleagues. The ongoing search for the remaining missing individuals continues as the community mourns the tragedy.
