Autonomy CEO says to consider cash return

LONDON: British search software firm Autonomy will consider returning cash to shareholders when its cash balance passes the $100 million mark, Chief Executive Mike Lynch said on Thursday. "We need about $100 million, but anything above that we would look to do something with. If we don't have a use for it, we will return it to shareholders," he told Reuters.

The company does not currently pay a dividend, but would consider it in the future, while share buybacks were also a possibility, he added. Autonomy's cash balance at the end of March stood at $95.5 million.