British tech entrepreneur Mike Lynch is missing following the sinking of a superyacht off the coast of Sicily, sources familiar with the situation have informed CNBC.
The sources, who requested anonymity due to the sensitivity of the matter, confirmed that Lynch’s wife, Angela Bacares, has been rescued.
The superyacht, named the Bayesian, capsized at approximately 5 a.m. local time while anchored off the coast of Porticello, a small fishing village in Palermo, Italy. Reports indicate that the vessel was struck by an unexpectedly violent storm.
Lynch, 59, is well-known as the founder of the enterprise software firm Autonomy. He has been embroiled in a lengthy legal battle with Hewlett-Packard (HP) after the U.S. tech giant accused him of inflating Autonomy’s value in an $11 billion sale. HP subsequently took an $8.8 billion writedown on Autonomy’s value within a year of the acquisition.
