Figures from the business and technology sectors have paid tribute to Mike Lynch after the tech mogul’s death was confirmed on Thursday.

Mr Lynch was confirmed to have died aged 59 after a luxury yacht, Bayesian, sank off the coast of Sicily.

He was the creator of software giant Autonomy, which grew to become one of the most prominent tech firms on the planet.

David Tabizel, Mr Lynch’s co-founder at Autonomy, said: “It looks like we’ve lost our dear Dr Mike Lynch. RIP. The world has lost a genius. His family have lost a giant of a man.”

As well as Autonomy, Mr Lynch was on the board of several prominent institutions including the BBC and the British Library, and was a fellow of the Royal Academy of Engineering.

Tim Davie, BBC director-general, said: “We are deeply saddened by the awful news about the deaths of those aboard the Bayesian yacht.

“Mike Lynch was an outstanding BBC director who made a major contribution during his time on the board, from 2007 to 2012.

“Wise, generous and insightful, he played a particularly key role in accelerating our transformation as a digital organisation.

“Our thoughts are with his family and all others involved.”

The academy paid tribute to its “mentor, donor and former council member” on Thursday.

In a statement, it said: “The trustee board, fellows and staff of the Royal Academy of Engineering are deeply saddened to learn of the death of Mike Lynch and send our profound condolences to his family.

“Mike became a fellow of the Royal Academy of Engineering in 2008 and we have fond memories of the active role he played in the past as a mentor, donor and former council member.

“He was also one of the inaugural members on the enterprise committee.

“Our thoughts are with his family and friends at this time.”

The chief executive of the British Library, Sir Roly Keating, said: “Mike’s extraordinary understanding of technology, combined with his passion for the British Library’s mission to share knowledge, made him an invaluable member of our board.

“He was thoughtful, perceptive and supportive, and will be deeply missed by all of us who worked with him in his time here.”

Meanwhile, the chairman of the Francis Crick Institute described Mike Lynch as a “human being of great ability”.

Mr Lynch was a member of the Create The Change fundraising board, set up by Cancer Research UK and which helped fund the building of the Institute, a biomedical research centre.

Lord John Browne said: “Mike Lynch should be remembered as the person who catalysed a breed of deep tech entrepreneurs in the UK.

“His ideas and his personal vision were a powerful contribution to science and technology in both Britain and globally.

“I send my condolences to those close to him. We have lost a human being of great ability.”

Michelle Mitchell, chief executive of Cancer Research UK, said: “We are deeply saddened to hear of the death of Mike Lynch and all those who have been affected by this tragedy.

“Together with his wife, Angela, Mike was a valued donor to Cancer Research UK and a member of the board for our Create the Change campaign, which funded the building of the Francis Crick Institute.

“His support has helped to bring leading scientists together under one roof to tackle the biggest health challenges faced by humankind, including cancer.

“Our sincerest condolences go out to all the families affected.”

Mr Lynch’s death was confirmed after a days-long search of the superyacht Bayesian, after it sank off the coast of Palermo in a storm earlier this week.

He died just months after being cleared in a 13-year legal saga centred around the £8.6 billion sale of Autonomy to Silicon Valley pioneer Hewlett Packard (HP).

Mr Lynch had been charged with orchestrating a fraud and conspiracy leading up to the 2011 deal, which turned into a costly albatross for HP.

The boat trip was a celebration of Mr Lynch’s acquittal in the case.

Technology industry group TechUK added to the tributes.

A spokesman said: “Mike Lynch was a hugely significant and pioneering figure in the UK technology sector.

“Our hearts go out to all of the families and friends who have been impacted by these tragic events.”