LONDON (Reuters) - British tech entrepreneur Mike Lynch is missing after a luxury yacht was struck by a violent storm and sank off the Sicilian capital Palermo on Monday, a person familiar with the rescue operation said.

Lynch, aged 59, was acquitted in June by a jury in San Francisco of fraud charges linked to the sale of his software company, Autonomy, to Hewlett-Packard for $11 billion in 2011.

The sale cemented Lynch's reputation as Britain's answer to Bill Gates, but it quickly turned sour after Hewlett-Packard wrote down Autonomy's value by $8.8 billion.

Lynch said he was "elated" to be cleared in the criminal trial, during which he took the stand in his own defence, denying to jurors any wrongdoing and blaming HP for botching the integration of the two companies.

(This story has been refiled to correct picture caption)