fredrikstad yacht for sale

• YACHTS FOR CHARTER
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FREDRIKSTAD, YACHT FOR CHARTER

INQUIRE ABOUT FREDRIKSTAD

‘Fredrikstad’ is a 72.18ft  /22m  motor yacht, custom built in 1968 by Smedviks Mv and last refitted in 1997.

The traditional exterior design of this vessel is the work of Smedviks Mek. Verksted, and her interior design is by Ken Freivokh.

Fredrikstad’s interior layout sleeps up to 6 guests in 3 rooms. She is also capable of carrying up to 3 crew onboard to ensure a relaxed luxury yacht experience. Timeless styling, beautiful furnishings and sumptuous seating feature throughout to create an elegant and comfortable atmosphere.

Her leisure and entertainment facilities make her perfect for entertaining friends and family on your charter vacation. There’s ample space for enjoying an alfresco lunch, delicious dinner on deck, or simply lounging in the sunshine and topping up your tan. The interior design onboard this vessel is extremely exquisite, with dark woods creating a sumptuous atmosphere.

Built with a steel hull and aluminium superstructure, she has a cruising speed of 8 knots, a maximum speed of 9 knots and a range of 3,200nm from 22,000litre fuel tanks. This combination of performance and style is also admirable.

You’ll enjoy Wi-Fi connection throughout, so you’ll be able to check emails or share your experience on social media. Air conditioning keeps conditions comfortable throughout the cabins, even on the most oppressive of days or nights.

Fredrikstad Photos & Videos

Fredrikstad features & pricing.

• AIR CONDITIONING • WI FI

CHARTER FREDRIKSTAD

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353' Benetti 2022 Luminosity

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$5.3 billion sale of Darktrace to move forward despite tragic yacht death of founding investor Mike Lynch

The passing of Mike Lynch, the U.K. tech entrepreneur who perished last weekend when his luxury yacht abruptly sank in the Mediterranean, is unlikely to impact the sale of cybersecurity firm Darktrace, of which he and his wife own a significant share.

Thoma Bravo, a software-focused private equity firm, had agreed to buy Darktrace in April for $5.3 billion, and Darktrace shareholders voted to approve the sale in June. The deal still needs regulatory approval, but Thoma Bravo is expected to complete the acquisition by the end of 2024, a person familiar with the transaction said.

“If the shares have already been voted, there is no obvious mechanism or need for further approval or action to be taken by any shareholders, including the Lynch family or estate,” an attorney who advises on M&A transactions told Fortune .

The sale has been back in the spotlight in the wake of the yacht tragedy , which also took the life of Lynch’s 18-year-old daughter as well as of a prominent banker and lawyer. The deaths came the same week that Lynch’s co-defendant in a related fraud case was fatally run over by a car. The fraud case involved Autonomy, a software firm that Lynch founded and sold to U.S. tech giant HP , which accused him of using accounting improprieties to inflate the company’s value.

Lynch’s connection to Darktrace is through his venture capital firm Invoke Capital. In 2013, a team of Cambridge mathematicians, including current CEO Poppy Gustafsson, along with business people and intelligence experts, founded the startup that relies on A.I. to combat cyberthreats. The U.K.-based Darktrace raised $230.5 million in funding, according to Crunchbase . Invoke was an early investor of Darktrace.

Darktrace went public in 2021, during the height of the IPO boom. But rather than listing in the U.S., Darktrace opened for trading on the London Stock Exchange. Invoke Capital was said to be Darktrace’s largest investor at the time, owning 39.5% of the company, the Guardian reported . Within months of the IPO, Darktrace’s valuation soared to nearly 7 billion pounds ($9.2 billion).

In 2022, Thoma Bravo made its first attempt to buy Darktrace, but walked away from negotiations when the two sides couldn’t agree on terms. The PE firm returned this year, clinching a deal for Darktrace in April. By this time, Lynch’s stake in Darktrace had fallen. The entrepreneur and his wife, Angela Bacares, owned roughly 7% of Darktrace, the person said. The couple’s stake then dropped further, to a little more than 3% by mid-August, according to a different person familiar with Darktrace.

Lynch and his wife were aboard a yacht named Bayesian after the Bayesian inference, a statistical model that formed the foundations of his company Autonomy. The boat sank off the coast of Sicily earlier this week and Lynch was pronounced dead Thursday, Aug. 22, while his wife survived. Lynch hasn’t been affiliated with Darktrace for some time. When he passed, he was not an executive of Darktrace but a shareholder.

Lynch’s influence on the U.K. tech scene was enormous and he was hailed as the “ British Bill Gates ,” although he was better known for his legal problems. A Cambridge-educated mathematician, he developed software that could extract useful information from unstructured sources including phone calls, emails, and video. 

This software was at the core of Autonomy, which HP purchased for $11 billion in 2011. But the next year, HP was forced to write down $8.8 billion of Autonomy’s value, making it one of the worst deals in history. 

HP, along with U.S. prosecutors, alleged that Lynch and Autonomy’s former finance chief used accounting tricks to inflate the company’s revenue ahead of the 2011 sale, Fortune reported . In August, a federal court in San Francisco acquitted Lynch of criminal fraud charges.

Lynch’s late co-defendant in the fraud trial, Stephen Chamberlain, served as Autonomy’s former vice president of finance. Both men were acquitted in a U.S. criminal trial, but civil lawsuits remain ongoing. Chamberlain also worked for Darktrace; he joined in 2016 as CFO and was named COO in September 2020. He went on administrative leave in June 2023, his LinkedIn said .

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Who was onboard tech mogul Mike Lynch's Bayesian yacht?

Topic: Disasters, Accidents and Emergency Incidents

Six people are missing, including a man dubbed the British Bill Gates, after a luxury yacht sank off the Sicilian coast.

British tech entrepreneur Mike Lynch — freshly acquitted from a decade-long trial — had invited his work colleagues aboard a trip through the Mediterranean coast when a freak storm saw the yacht sink within moments.

Fifteen people escaped from the sinking vessel. The search for the missing continues.

Here's what we know so far: 

What happened?

The Italian coastguard said the yacht — the Bayesian — was anchored off the shore of port city Porticello, near the Sicilian capital Palermo, when it was hit by bad weather sometime after 4am on Monday, local time. 

Eyewitnesses said it vanished quickly beneath the waves shortly before dawn.

Managers of the sailing vessel Bayesian, Camper & Nicholsons, confirmed to the ABC that the Bayesian encountered severe weather and subsequently sank. 

"Our priority is assisting with the ongoing search and providing all necessary support to the rescued passengers and crew," they said. 

"The wind was very strong. Bad weather was expected, but not of this magnitude," a coastguard official told Reuters.

Sicily's civil protection agency head, Salvo Cocina, said a waterspout — a tornado over the water — could have struck the yacht.

"They were in the wrong place at the wrong time," Mr Cocina added. 

Storms and heavy rainfall had swept down Italy in recent days after weeks of scorching heat, lifting the temperature of the Mediterranean Sea to record levels and raising the risk of extreme weather conditions, experts told Reuters.

"The sea surface temperature around Sicily was around 30 degrees Celsius, which is almost 3 degrees more than normal. This creates an enormous source of energy that contributes to these storms," meteorologist Luca Mercalli said.

Rescuers recover the body of one of the people aboard the Bayesian.  ( AP: Lucio Ganci )

Captain Karsten Borner of the Sir Robert Baden Powell vessel told journalists he noticed the Bayesian nearby during the storm, but after it calmed he saw a red flare and realised the ship had simply disappeared.

Mr Borner said he and a crew member boarded their tender and found a lifeboat with 15 people, some of them injured, who they then took aboard and alerted the coast guard.

Search crews, including helicopters and divers, are continuing to search the wreckage, lying at a depth of 49 metres.

Specialist divers reached the ship on Monday but access was limited due to objects in the way, the fire brigade said.

The UK Marine Accident Investigation Branch is deploying a team of four inspectors to Italy to conduct a preliminary assessment.

The Foreign Commonwealth and Development office said it was "providing consular support to a number of British nationals and their families".

Sicilian prosecutors have also opened an investigation into the event. 

Who is missing?

Lawyer Chris Morvillo (left), entrepreneur Mike Lynch, and Morgan Stanley chairman Jonathan Bloomer are among the missing. 

There were 12 passengers and 10 crew members aboard the yacht. 

Mr Cocina said the crew and passengers hailed from a variety of countries, including Britain, the United States, Antigua, France, Germany, Ireland, Myanmar, the Netherlands, New Zealand and Spain.

Of the 22, one man is confirmed dead and another six people are still missing. 

They are believed to be inside the hull, fire rescue spokesperson Luca Cari said.

Fabio Cefalù, a fisherman who said he responded to a flare from the vessel but found it sunk, said he stayed at the site for three hours without finding anyone.

"I think they are inside, all the missing people," he said.

Rescue teams recovered the body of the yacht's onboard chef on Monday, identified as Antiguan citizen Ricardo Thomas.

The still missing people include: 

• Mr Lynch's 18-year-old daughter, Hannah 
• Jonathan Bloomer, chairman of global financial services company Morgan Stanley International
• Chris Morvillo , a lawyer at the British multinational law firm Clifford Chance. He worked on Mr Lynch's lawsuit against Hewlett-Packard
• The identities of the remaining two missing are still unconfirmed

Who was rescued? 

Fifteen people escaped from the sinking ship. 

Eight have been hospitalised and others were taken to a nearby hotel.

Charlotte Golunski was among those rescued, recalling the harrowing moments she held her child Sofia above the waves.  ( Supplied: Facebook  )

Among those rescued were:

• Mr Lynch's wife, Angela Bacares, who was the owner of the yacht
• Charlotte Golunski and her one-year-old daughter, Sofia. Ms Golunski is a partner at Mr Lynch's firm, Invoke Capital. She says she momentarily lost hold of Sofia in the water but managed to hold her up above the waves until the lifeboat was inflated
• Ms Golunski's husband James Emslie
• New Zealand captain of the yacht James Catfield. He told Italian newspaper La Repubblica the crew didn't see the storm coming
• A lone Dutch citizen was identified by the Dutch foreign ministry as being rescued, but was not identified

Who is Mike Lynch?

Mr Lynch, once hailed as Britain’s king of technology, was recently freed from a Silicon Valley lawsuit that tarnished his legacy. 

The 59-year-old Cambridge-educated mathematician created Autonomy , a search engine that could pore through emails and other internal business documents to help companies find vital information more quickly. 

He received the OBE for his innovation in 2006. 

He then sold the software to Hewlett-Packard (HP) for $US11 billion ($16 billion) in 2011, with Mr Lynch personally netting $US800 million. 

HP valued Autonomy at $US46 billion ($68 billion) in the months leading up to the deal.

Mike Lynch in 2019 leaving the High Court in London.  ( Reuters: Henry Nicholls/File Photo )

But the deal quickly turned sour after he was accused of forging the software's financial records to make the sale.

As part of a decades-long legal battle against HP, Mr Lynch was extradited to the UK on criminal fraud charges. 

He steadfastly denied any wrongdoing, asserting that he was being made a scapegoat for HP's own bungling. 

He was eventually cleared of all charges in June this year. 

Although he avoided a possible prison sentence, Lynch still faced a bill from a civil case in London that HP mostly won during 2022. Damages haven't been determined in that case, but HP is seeking $US4 billion. 

Following the San Francisco trial, Mr Lynch said he would return to the UK and do what he loved most: "[being with] my family and innovating in my field."

The holiday appeared to be something of a celebration after Mr Lynch's acquittal, with guests including some of the people who had stood by Lynch throughout the ordeal.

This picture shows the rescue operations off the Sicilian coast.  ( AP: Italian Coast Guard  )

In a separate act of tragedy, Mr Lynch's co-defendant in the trial, Stephen Chamberlain, died on Monday, after a road accident left him critically injured.

Mr Chamberlain — Autonomy's former vice-president of finance alongside Mr Lynch — was hit by a car in Cambridgeshire on Saturday morning and had been placed on life support. 

What is the Bayesian?

The luxury yacht is 56m long sailboat, with a 75m mast labelled as the tallest aluminium mast in the world.

It was previously named Salute when it flew under a Dutch flag.

The yacht, built in 2008 by the Italian firm Perini Navi, can accommodate up to 12 guests in six suites and a crew of 10, according to online specialist yacht sites. It was last refitted in 2020.

Online charter sites listed it for rent for up to 195,000 euros (about $AU 321,000) a week. 

This picture taken on Sunday shows the Bayesian (left) and the Duch sailboat Sir Robert Baden Powell anchored off the coast line.   ( AP: Fabio La Bianca/Baia Santa Nicolicchia )

The ship also won a string of awards for its design. 

Ms Golunski said the yacht had travelled through the Aeolian Islands, Milazzo and Cefalù before sinking. 

It is likely the yacht's name would resonate with Mr Lynch because his PhD thesis and the software that made his fortune was based on Bayesian theory.

Watch CBS News

Luxury yacht sinks off Sicily, leaving U.K. tech magnate Mike Lynch, 2 Americans among those missing

By Anna Matranga

Updated on: August 20, 2024 / 7:47 PM EDT / CBS News

Rome  — Six people, including two U.S. nationals, a British technology entrepreneur and one of his daughters, were still missing Tuesday after a large luxury sailing yacht sank off the coast of the southern Italian island of Sicily during a violent storm. The 184-foot Bayesian had been anchored about half a mile off the port of Porticello, near Palermo, with 22 people on board — 10 crew members and 12 passengers.

The vessel sank at about 5 a.m. local time (11 p.m. Eastern, Sunday) after being hit by a possible waterspout spawned by the storm. Italian media said the winds snapped the boat's single mast, unbalancing the vessel and causing it to capsize.

Fifteen of those on board managed to escape the yacht and were rescued by a Dutch-flagged vessel that was anchored in the immediate vicinity. They were brought ashore by Italian Coast Guard and firefighters.

One body — an unidentified male — was recovered, but six people remained missing, including British software magnate Mike Lynch, once described as Britain's Bill Gates. 

Lynch was acquitted in June of fraud charges in the U.S. that could have landed him with a decades-long prison sentence. In an unusual twist, Lynch's co-defendant in that fraud case, who was also acquitted, died Saturday after being hit by a car while out jogging in England.

Lynch's teenage daughter Hannah was also among those missing, along with Lynch's American lawyer Chris Morvillo, a former assistant district attorney in New York, and his wife Neda. British banker Jonathan Bloomer, chairman of Morgan Stanley International, was also still missing Tuesday.

Among the survivors was a 1-year-old British girl who was being treated at a nearby hospital along with her parents. They were doing well, according to Italian media.

"For two seconds I lost my child to the sea, then I immediately was able to grab her again in the fury of the waves," the girl's mother, identified only as Charlotte, was quoted as saying by Italy's ANSA news agency. "I held on to her tightly in the stormy sea. Many were screaming. Luckily the life raft opened up and 11 of us managed to get aboard."

"It was terrible," she told ANSA. "In just a few minutes the boat was hit by a very strong wind, and sunk soon thereafter."

Karsten Borner, the captain of the Dutch vessel that came to the rescue, told ANSA he had been anchored near the Bayesian.

"When the storm was over we noticed that the ship behind us was gone, and then we saw a red flare, so my first mate and I went to the position and we found this life raft drifting, and in the life raft was also a little baby and the wife of the owner."

Recovery efforts were back underway Tuesday, with speedboats, helicopters and divers continuing to search for the missing — as well as for answers, as to how a state-of-the-art superyacht could disappear in a flash. 

According to Italian media, Fire Brigade divers reached the boat and saw bodies trapped inside some of the cabins, but they had been unable to recover any of the victims from inside the vessel by Tuesday, due to obstructions. The Bayesian appeared to have sunk in an area with a depth of about 160 feet.

Witnesses said the boat sank quickly. 

"I was at home when the tornado hit," fisherman Pietro Asciutto told a local news outlet. "I immediately closed all the windows. Then I saw the boat, it had only one mast, it was very large. I suddenly saw it sink... The boat was still floating, then suddenly it disappeared. I saw it sink with my own eyes."

The director-general of Sicily's civil protection agency, Salvatore Cocina, confirmed to CBS News partner BBC News  that three of the six people still missing Monday were British tech entrepreneur Mike Lynch, whose company Autonomy Corporation PLC was acquired in 2011 by HP ; one of his daughters, Hannah Lynch, who is believed to be 18; and the boat's chef, Ricardo Thomas.

CBS News has seen corporate documentation showing a company called Revtom, solely owned by Lynch's wife Angela Bacares, who was among those rescued from the accident, as the owner of the yacht that capsized off Sicily. 

While the yacht was a privately owned pleasure boat, the waters around the island have claimed many lives over the last decade.

Dozens of migrants have died attempting to reach Sicily and smaller Italian islands in the region. Sicily sits only about 100 miles from the east coast of Tunisia in north Africa, and the Mediterranean crossing has been a frequent site of both nautical rescues and disasters as smugglers routinely send small boats overloaded with desperate people into the sea.

Alex Sundby , Joanne Stocker and Chris Livesay contributed to this report.

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Mike Lynch won a dramatic 12-year legal battle over his tech company. Weeks later, he and his top lawyer are dead.

• Mike Lynch won an unexpected jury acquittal after a dramatic 12-year legal saga.
• HP accused him of cooking the books of his company Autonomy to make it seem worth billions more.
• He finally won — and then he, his lawyer, and his codefendant all died within days.

In 2011, Mike Lynch was the toast of the tech world.

Hailed as Britain's Bill Gates, Lynch sold Autonomy, his groundbreaking data-management company, to Hewlett-Packard for $11 billion.

Shareholders and business commentators were puzzled about what HP, a hardware company, would do with Autonomy, a software company — and why the latter was worth $11 billion. HP's executives said at the time that Autonomy had the potential to transform HP and usher the Silicon Valley titan into a new generation.

None of that happened. A year after the acquisition, HP wrote down $8.8 billion of the purchase value and accused Lynch of lying about Autonomy's finances.

The claim led to a vicious decadelong series of legal disputes.

Another Autonomy executive, Sushovan Hussain, was convicted of fraud in 2018 and sentenced to five years in prison. Federal prosecutors brought criminal charges against Lynch and Stephen Chamberlain, the company's former vice president of finance.

Lynch's court battles concluded with a three-month criminal trial in San Francisco. After just two days of deliberation, jurors found Lynch and Chamberlain not guilty on all counts.

"The truth has finally prevailed," his lawyer Chris Morvillo said.

Within months, Lynch, Chamberlain, and Morvillo were all dead.

A takeover doomed from the start

Lynch, who studied neural networks for his Ph.D. at Cambridge University, spun off Autonomy from a previous company, Cambridge Neurodynamics, in 1996.

Using sophisticated algorithms, Autonomy allowed users to organize and search through large amounts of unstructured data. It was a bright spot in Britain's tech industry and was listed on the country's stock-market index.

Autonomy's clients included Oracle, Adobe, Cisco, AT&T, and HP itself. But HP's purchase of Autonomy was controversial.

The hardware company's CEO, Léo Apotheker , who had been in the position for less than a year, tried to shift the company's direction. HP had struggled to sell printers and servers as part of its traditional hardware business. Apotheker wanted to spin off HP's personal-computing division and make a big bet on moving the company into software, which had higher margins.

Analysts hated the idea. Shareholders sued. HP's value dropped by more than half. The company's board fired Apotheker within weeks of the decision to buy Autonomy, before the deal even closed.

Related stories

His successor, Meg Whitman, fired Lynch and wrote down the value of Autonomy by $8.8 billion, which indicated HP paid nearly four times what it should have. The New York Times columnist James B. Stewart floated the case that it was the worst acquisition in corporate history — even worse than AOL's ill-fated purchase of Time Warner.

In a stunning move, HP accused Lynch of fraud the following year. The company alleged he and Hussain, a former CFO, inflated Autonomy's sales figures. The FBI and the UK's Serious Fraud Office both opened investigations.

Lynch fervently denied accusations of wrongdoing. He pointed out that Autonomy was audited by Deloitte, which hadn't found issues. Lynch said HP stifled Autonomy with mismanagement and bureaucracy that pushed out employees and stymied sales.

The culture at HP, he said, was poisonous.

"It was like boarding a plane, realizing the engine is on fire, and then going up to the cockpit only to find that the pilots are having a fight," he told The Telegraph at the time .

According to The New York Times, lawyers representing shareholders in the lawsuit against HP obtained a copy of the company's own KPMG-prepared due-diligence report. The report said that Autonomy wasn't transparent enough with its finances, but Apotheker moved forward with the takeover anyway, deciding that Autonomy's potential was worth it.

A legal morass

The UK's Serious Fraud Office announced in January 2015 that it closed its investigation into Autonomy, finding insufficient evidence for legal action, though it referred some issues to the US Justice Department.

In the subsequent months, HP and Lynch sued each other in the UK. As those cases wound their way through the British court system, US prosecutors continued investigating HP's purchase of Autonomy. In 2016, they brought fraud charges against Hussain, who was found guilty in a 2018 jury trial. British regulators formally barred him from the financial industry earlier this year after he completed a five-year sentence in the US.

HP unloaded Autonomy altogether, selling parts of it in 2016 and 2017.

In November 2018, Justice Department prosecutors went directly after Lynch and Chamberlain.

Their indictment accused Lynch and Chamberlain of falsifying financial documents, lying to auditors and regulators, and suppressing the voices of people who criticized Autonomy's financial practices.

Lynch was no longer looking at civil fights over money. He was facing the prospect of up to 20 years in prison.

For years, Lynch fought extradition to the US. Powerful in British political circles — he had advised David Cameron when Cameron was prime minister and served on the boards of the BBC and the British Museum — he and his lawyers argued that his legal issues should play out in the UK, not the US. American criminal laws were unfairly stacked against him, his lawyers said.

HP's lawsuit against Lynch — still churning in the background — finally went to trial in 2019. Apotheker testified he would have abandoned the Autonomy acquisition if he had a better understanding of its finances. Lynch argued that the whole morass was orchestrated by Whitman, Apotheker's successor, who harbored political ambitions (she ran for governor in California and is currently the US ambassador to Kenya) and wanted to shift the blame for Autonomy's failures to someone else.

Robert Hildyard, the judge who oversaw the case, ruled mostly in HP's favor. In a 2022 decision that ran over 1,700 pages, he wrote that HP overpaid for Autonomy because of deceit from Lynch and Hussain. Hildyard hadn't yet decided how much they would owe in damages, but he wrote it would be "substantially less" than the $5 billion HP asked for.

When he wasn't fighting legal battles, Lynch continued to be an entrepreneur. He founded a venture-capital firm, Invoke Capital, and invested in and helped run the cybersecurity firm Darktrace, which,  Politico reported, has deep ties  to Britain's intelligence agencies.

Financial disclosures Lynch filed last year as part of his criminal case indicated he was worth about $450 million.

The criminal trial

The UK finally extradited Lynch to the US in May 2023 , where he prepared for his trial — alongside Chamberlain as a codefendant — while under house arrest in San Francisco.

Lynch had a top-shelf legal team, but after the British court loss and Hussain's conviction, the chances of an acquittal seemed bleak.

Lynch testified at the end of his three-month trial, which began in March, telling jurors he wasn't involved in day-to-day financial oversight of the company. Misunderstandings, he said, could be chalked up to the differences between British and American accounting practices.

"A lot of what we've been looking at is like peering through the door of a kitchen and seeing the sausage-making machine, and that's how it really works," he told jurors, according to The Times of London . "If you take the microscope into even the most spotless kitchen, you'd find bacteria. If it wasn't there, that'd be something very abnormal. I don't think Autonomy was any different."

Jurors believed him. In June, they declared Lynch not guilty of the 15 charges against him, clearing Chamberlain as well.

Morvillo, one of Lynch's lawyers in the trial — as well as in the preceding decade of legal disputes — praised the jury, saying it had rejected "the government's profound overreach in this case."

"This verdict closes the book on a relentless 13-year effort to pin HP's well-documented ineptitude on Dr. Lynch," Morvillo said in a joint statement with his attorney colleague Brian Heberlig. "Thankfully, the truth has finally prevailed."

In an interview with The Times of London after the trial , Lynch reflected on how, with a great burden lifted off him at the age of 59, he could remake his life.

He mourned the deaths of his brother and mother, who both died ahead of the criminal trial. He mused about using his fortune to start a British version of the Innocence Project, which prevents wrongful convictions in the US.

"Now you have a second life," he told The Times. "The question is, what do you want to do with it?"

But first, a celebration. Lynch; his wife, Angela Bacares; one of his two daughters; Morvillo and his wife, Neda; and several others went on a superyacht, the Bayesian , which was anchored outside Sicily and owned by Bacares.

Chamberlain moved back to the UK. While running near his home, a driver hit him with a car . He died in a hospital on Saturday.

On Monday, a sudden storm struck the Bayesian. The yacht capsized.

Of its 22 passengers, 15, including Bacares, were rescued.

But rescuers have pulled five bodies from the wreckage, including Morvillo's and Lynch's . A sixth remains trapped inside the boat. Lynch's daughter Hannah remains missing.

Correction: August 22, 2024 — An earlier version of this story misnamed Lynch's lawyer. His name was Chris Morvillo, not Charles Morvillo.

• Main content

Mike Lynch, recently acquitted in HP-Autonomy fraud case, is missing after yacht capsized off Sicily (updated)

Update 2 : His body has now been identified. Story here .

Update : Authorities have yet to access the inside of the sunken yacht, and Mike Lynch is still classified as missing. Other details have emerged in the interim.

The accident appears to have been caused by a major storm and a resulting tornado-like water column that ensnared and damaged the yacht. Among the other six people still missing are Lynch’s 18-year-old daughter and Morgan Stanley International chairman Jonathan Bloomer. The voyage was to celebrate Lynch being acquitted of criminal charges in the U.S., and several members of his legal team were also on board. (The ship was registered to Lynch’s wife, one of the survivors.) By a terrible coincidence, the other person acquitted in Lynch’s trial — Autonomy’s finance head Stephen Chamberlain — had died just a few days before when he was hit by a car while out jogging. Original article continues below.

Mike Lynch, the investor and high-profile founder of U.K. tech firm Autonomy, has been declared missing at sea after the yacht he was on, the Bayesian , capsized in a storm off the coast of Sicily early Monday morning.

TechCrunch confirmed with a source close to the rescue operation that Lynch is one of six people missing from the boat. Lynch’s wife, Angela Bacares, is one of the 15 who have been rescued. One body has been found.

The news is a dramatic, tragic development for one of the more colorful, and sometimes controversial, figures in technology out of the U.K.

Lynch’s enterprise technology firm Autonomy was acquired in 2011 by HP for $11 billion — a major milestone for U.K. technology. But it quickly turned sour, and HP sued Lynch and other executives at the company, arguing it was misled in the transaction.

HP claimed that the deal led to a $4 billion loss — money it then demanded from Lynch and his former CFO. Lynch (pictured above, left) long asserted that he acted in good faith and that he was being made into a scapegoat over a merger gone bad.

That legal drama went on for more than a decade and involved a host of other thorny chapters, including Lynch’s extradition to the U.S. and a lot of very bad publicity for Lynch. It also led to a second civil case that took place in 2022 in the U.K., which Lynch lost.

The U.S. criminal case, where Lynch was charged with 15 counts of fraud and conspiracy, went to trial earlier this year in San Francisco. Finally, in June, Lynch was acquitted .

“I am elated with today’s verdict and grateful to the jury for their attention to the facts over the last ten weeks. My deepest thanks go to my legal team for their tireless work on my behalf,” Lynch said at the time. “I am looking forward to returning to the UK and getting back to what I love most: my family and innovating in my field.”

In the interim years, Lynch built up a profile in the U.K. as an investor, most prominently as the founder of Invoke Capital . The VC firm was the biggest investor in cybersecurity firm Darktrace, a connection that was not without its own controversy . It also invested in Sophia Genetics , Featurespace and Luminance, among others. And it appeared that this is the route that he was set to continue.

Our thoughts go out to his family, friends and colleagues. We’ll update this post as we learn more.

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