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Divestiture
6 Months Ended
Apr. 30, 2016
Divestiture  
Divestiture

 

Note 16: Divestiture

        During the second quarter of fiscal 2016, HP entered into an agreement to divest certain technology assets, including licensing and distribution rights, for certain software offerings to Open Text Corporation, an enterprise information management company for $170 million. This divestiture was completed in the U.S. during the second quarter of fiscal 2016. The sale is expected to be completed in the remaining jurisdictions during the third quarter of fiscal 2016, subject to customary closing conditions. The software assets sold were previously reported within the Commercial Hardware business unit within the Printing segment. The gain associated with this divestiture was included in Selling, general and administrative expenses on the Consolidated Condensed Statements of Earnings.