Subsequent Events

3 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE P – SUBSEQUENT EVENTS

On July 8, 2015, the Company completed its acquisition of Rally Software Development Corp. (Rally), a provider of Agile development software and services. Pursuant to the terms of the acquisition agreement and related tender offer, the Company acquired 100% of the outstanding shares of Rally common stock for approximately $480 million, net of cash acquired. In connection with the acquisition, the Company borrowed approximately $400 million under its revolving credit facility and funded the remaining amount from the Company’s available cash on hand. The interest rate applicable to the Company at the time of borrowing under the revolving credit facility was approximately 1.19%. The initial allocation of the purchase price for the acquisition of Rally is pending the completion of the Company’s analysis and finalization of estimates. Accordingly, such disclosures related to this business combination could not be made at the time these condensed consolidated financial statements were issued. The results of operations of Rally will be reported predominately in the Company’s Enterprise Solutions segment and will be included in the consolidated results of operations of the Company from the date of acquisition.