Hewlett-Packard said on Thursday that it has offered to buy all outstanding shares of software company Autonomy for $42.11 per share.

The addition of Autonomy will accelerate HP's ability to deliver on its strategy to offer cloud-based solutions and software for businesses, HP said.

HP also said that it is discontinuing TouchPad as the device has not met internal milestones and financial targets.

(Reporting by Poornima Gupta; editing by Carol Bishopric)