Keysight acquired ESI Group SA in 2024, broadening its software offerings with computer-aided engineering solutions. The company also acquired Riscure Holding B.V. and AnaPico AG to enhance security and RF/microwave instrument capabilities, respectively.

The company announced its intention to acquire Spirent Communications PLC and entered into a definitive agreement with Synopsys, Inc. to acquire Synopsys' Optical Solutions Group, further broadening its design engineering software portfolio.

The 10-K filing states that acquisitions had a favorable impact of 3 percentage points on the revenue change for 2024 compared to 2023. This shows that acquisitions are contributing to growth.

The company emphasizes cost structure flexibility and disciplined capital allocation as key elements of its operating model. This includes variable pay mechanisms, strategic use of contingent staffing, and a centralized order fulfillment organization.

The company disclosed its commitment to achieving net zero Scope 1 and Scope 2 emissions by the end of fiscal year 2040. The company plans to meet this commitment by reducing energy consumption through efficiency and conservation measures, investments in renewable energy and selective purchase of certified offsets for residual emissions.

The 10-K filing mentions that acquisitions may require the integration of a different company culture, management team, employees, and business infrastructure into existing operations. This integration may impact the business operations of the newly acquired company.

The company acknowledges sensitivity to negative changes in general economic conditions, both inside and outside the United States, including global and regional economic uncertainty, inflation and potential recession.

Nationalistic economic policies and political trends such as opposition to globalization and free trade, sanctions or trade restrictions, including those on advanced computing and semiconductor manufacturing, withdrawal from or re-negotiation of global trade agreements, tax policies that favor domestic industries and interests, and other similar actions may result in conflicting local or regional requirements, increased transaction costs, reduced ability to hire employees, reduced access to supplies and materials, reduced demand or access to customers, and inability to conduct our operations as they have been conducted historically.

Regional conflicts, including the Russian invasion of Ukraine, the war between Israel and Hamas, and the risk of increased tensions between China and Taiwan, could limit or prohibit our ability to transfer certain technologies, to sell our products and solutions, and could result in additional closure of facilities in sanctioned countries.

The company acknowledges the potential for industry consolidation in its markets, which may result in stronger competitors and increased variability in operating results. Consolidation among the customer base may also lead to reduced demand for solutions and increased leverage in negotiating prices.

The company acknowledges that its solutions and services could become technologically obsolete over time without the timely introduction of new solutions, services and enhancements.

The company is involved in disputes and litigation regarding patents or other intellectual property. These disputes are costly and time-consuming due to the complexity of the technology and the uncertainty of intellectual property litigation.

The company outsources aspects of its manufacturing processes and other functions. If contract manufacturers or other outsourcers fail to perform their obligations in a timely manner or at satisfactory quality levels, the company's ability to bring solutions to market and its reputation could suffer.

The company acknowledges that its operating results may suffer if its manufacturing capacity does not match the demand for its solutions. This could lead to order cancellations, contract breaches or indemnification obligations.

A substantial amount of the company's solutions are priced and paid for in U.S. Dollars, although many of the solutions are priced in local currencies and a significant amount of certain types of expenses are paid in local currencies and could be impacted by significant currency exchange rate fluctuations.

The company intends to invest approximately 16% of its revenue in R&D annually over the cycle. In 2024, R&D investment totaled $919 million. This investment is focused on delivering differentiated, first-to-market solutions.

Keysight employs vertical technology integration that leverages investments in core hardware technology, such as advanced semiconductor capability provided by our in-house fab, custom packaging from our technology centers, and other unique competencies.

The company acknowledges that its network and data may be vulnerable to cybersecurity attacks, computer viruses, break-ins and similar disruptions. Such attacks could lead to disruptions in systems, unauthorized release of confidential information and corruption of data.

The company strives to be a good steward of capital, leveraging the strength of its differentiated portfolio and flexible operating model, together with its strong balance sheet and cash generation. This includes balancing investment for organic growth, mergers and acquisitions, and return of capital.

On March 6, 2023, the board of directors approved a stock repurchase program authorizing the purchase of up to $1,500 million of the company's common stock. Under the stock repurchase program, shares may be purchased from time to time, subject to general business and market conditions and other investment opportunities.

The company currently has outstanding debt as well as availability to borrow under a revolving credit facility. The company may borrow additional amounts in the future and use the proceeds from any future borrowing for general corporate purposes, future acquisitions, expansion of our business or repurchases of our outstanding shares of common stock.

The company disclosed its commitment to achieving net zero Scope 1 and Scope 2 emissions by the end of fiscal year 2040. The company plans to meet this commitment by reducing energy consumption through efficiency and conservation measures, investments in renewable energy and selective purchase of certified offsets for residual emissions.

The company has developed Scope 3 reduction and engagement targets across relevant categories as part of our commitment to science-based targets, which were approved by Science Based Target Initiative (“SBTi”) on October 27, 2023.

The company has a diverse and inclusive work environment, where employees are offered challenging assignments, development opportunities, competitive salaries and a safe workplace. We believe our culture, which fosters employee inclusion, engagement, and innovation, is a competitive advantage.

The company acknowledges that visibility into its markets is limited and that its quarterly sales and operating results are highly dependent on the volume and timing of technology-related spending and orders received during the fiscal quarter, which are difficult to forecast.

Keysight operates in a highly competitive and rapidly changing global marketplace. The company believes that its technology leadership serves as a competitive differentiator.

Nationalistic economic policies and political trends such as opposition to globalization and free trade, sanctions or trade restrictions, including those on advanced computing and semiconductor manufacturing, withdrawal from or re-negotiation of global trade agreements, tax policies that favor domestic industries and interests, and other similar actions may result in conflicting local or regional requirements, increased transaction costs, reduced ability to hire employees, reduced access to supplies and materials, reduced demand or access to customers, and inability to conduct our operations as they have been conducted historically.