British businessman Mike Lynch found in yacht wreck in Sicily

LONDON – The body of British technology entrepreneur Mike Lynch, 59, has been recovered from the wreckage of a yacht that sank off the coast of Sicily, a source familiar with the matter told CNBC on Thursday, confirming an earlier Sky News report.

The source, who asked not to be identified due to the sensitivity of the situation, said Lynch's daughter, Hannah, was still missing. Sky News earlier reported that the Italian coastguard had identified five bodies recovered from the rubble, and that Lynch was among the dead.

Lynch, who was reported missing on Monday, was one of 22 passengers on board the luxury yacht Albayzia, which capsized while docked in the small fishing village of Porticello, in the province of Palermo in Italy.

On Wednesday, Salvatore Cosina, head of Sicily’s civil protection agency, confirmed to NBC News that five bodies had been recovered from the wreckage of the yacht. The only person confirmed dead so far by authorities is Riccaldo Thomas, a Canadian chef of Antiguan origin.

CNBC has contacted the Italian Coast Guard and is awaiting a response.

Lynch was the founder of business software company Autonomy. He became the target of a protracted legal battle with Hewlett-Packard after the company accused him of inflating Autonomy's value in an $11.7 billion sale. Hewlett-Packard lost $8.8 billion in the company's value within a year of its purchase.

Lynch was acquitted of fraud charges in June in a surprise victory in a U.S. court after a three-month trial. He had faced wire fraud and conspiracy charges for allegedly plotting to inflate Autonomy’s revenues. Lynch denied any wrongdoing and told the jury that HP botched the Autonomy merger.

Lynch was also the founder of Invoke Capital, a venture capital firm that backs European tech startups. He has become a key voice supporting the UK tech industry, backing major names such as cybersecurity firm Dark Trace And legal technology company Luminance.

Condolences were offered to Lynch following news of his death.

Ross Shaw, founder of tech industry groups Tech London Advocates and Global Tech Advocates, said Lynch “leaves a legacy as one of the greatest entrepreneurs in modern British technology”.

“His ability to understand how technology could solve major challenges, and then successfully commercialize them, was truly unique,” ​​Shaw said in an emailed statement to CNBC. “Mike will be rightly remembered for his work nurturing some of the UK’s great technology companies, including Darktrace, Luminance and Sophia Genetics.”

The Royal Academy of Engineering, which awarded Lynch its Fellowship in 2008, said its Trustees, Fellows and staff were “deeply saddened” to learn of his death and “sent our deepest sympathies to his family”.

“We have fond memories of the active role he played (as a Fellow) in the past, as a mentor, donor and former board member. He was also a founding member of the Projects Committee,” the academy said on social media platform X. “Our thoughts are with his family and friends at this time.”

“Lynch should be remembered as the person who inspired a generation of deep tech entrepreneurs in the UK,” Lord John Browne, former chief executive of energy company BP, said in a post on X. “His ideas and personal vision were a powerful contribution to science and technology in Britain and the world.”