ACQUISITIONS

9 Months Ended

Jul. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Business Combination

2. ACQUISITIONS

On November 3, 2023, we acquired 50.6% of the share capital of ESI Group SA (“ESI Group”) for $477 million, net of cash acquired, using existing cash. During January 2024, we completed the acquisition of the remaining share capital of ESI Group for $458 million, using existing cash. The company entered into put/call agreements valued at $7 million for certain ESI Group equity awards, subject to a holding period that may extend beyond the explicit vesting period, for the right to receive a cash payment equal to the public tender offer consideration of 155 euros per share, which was fully paid as of the third quarter of fiscal year 2025.

The following represents pro forma operating results as if ESI Group had been included in the company's consolidated statements of operations as of the beginning of fiscal 2023:


	Three Months Ended		Nine Months Ended
	July 31, 2024		July 31, 2024
	(in millions, except per share amounts)
Net revenue	$	1,217	$	3,692
Net income	$	398	$	717
Net income per share - Basic	$	2.28	$	4.11
Net income per share - Diluted	$	2.27	$	4.09

The unaudited pro forma financial information for the three and nine months ended July 31, 2024 combines the historical results of Keysight and ESI Group for the three and nine months ended July 31, 2024, assuming that the companies were combined as of November 1, 2022 and includes business combination accounting effects from the acquisition including amortization charges from acquired intangible assets and tax-related effects. The pro forma information as presented above is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of fiscal 2023.

- Definition

The entire disclosure for business combination.

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+ Details

Keysight Technologies, Inc. 10-Q