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SUBSEQUENT EVENTS
12 Months Ended
Mar. 31, 2024
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

NOTE 20. SUBSEQUENT EVENTS

On April 26, 2024, the Company completed its acquisition of Skytap, Inc. for $51 million of cash consideration, reflecting customary closing adjustments. The acquisition will be accounted for using the acquisition method and the

results of the acquired business will be included in the Company’s results of operations from the acquisition date. The purchase price allocation is subject to adjustments as we obtain additional information during the measurement period. We are currently in the process of completing the accounting for this transaction and expect to have our preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed in the first half of fiscal year 2025.

In May 2024, the Company entered into a definitive agreement to divest its Securities Industry Services (SIS) business for approximately $200 million. The Company has determined the assets associated with the business to be held-for-sale as of the first quarter of our 2025 fiscal year. Closing of the transaction is subject to customary closing conditions, including regulatory approval. The Company is currently evaluating the accounting impact resulting from the disposal, which it expects to include in its financial results in the first quarter of 2025.