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ACQUISITIONS
 6 Months Ended
Apr. 30, 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 substantially paid in the third quarter of fiscal year 2024.
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 EndedSix Months Ended
April 30, 2024April 30, 2024
(in millions, except per share amounts)
Net revenue$1,216 $2,475 
Net income$133 $319 
Net income per share - Basic$0.76 $1.83 
Net income per share - Diluted$0.76 $1.82 
The unaudited pro forma financial information for the three and six months ended April 30, 2024 combines the historical results of Keysight and ESI Group for the three and six months ended April 30, 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.