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Acquisitions and Divestiture
9 Months Ended
Dec. 28, 2018
Business Combinations [Abstract]  
Acquisitions and Divestiture
Acquisitions and Divestiture
Fiscal 2019 acquisitions
During the nine months ended December 28, 2018, we completed acquisitions of companies for an aggregate purchase price of $42 million, net of $3 million cash acquired. The purchase prices were primarily allocated to goodwill and intangible assets.
Fiscal 2018 acquisitions
In July 2017, we completed our acquisitions of Israel-based Fireglass Ltd. and Skycure Ltd. The total aggregate consideration for these acquisitions, primarily consisting of cash, was $345 million, net of $15 million cash acquired. In addition, during the nine months ended December 29, 2017, we completed acquisitions of other companies for an aggregate purchase price of $66 million, net of cash acquired.
Pro forma results of operations for our fiscal 2019 and fiscal 2018 acquisitions have not been presented because they were not material to our consolidated results of operations, either individually or in the aggregate.
Fiscal 2018 divestiture
On October 31, 2017, we completed the sale of our website security (“WSS”) and public key infrastructure (“PKI”) solutions in our Enterprise Security segment to DigiCert Parent Inc. (“DigiCert”) and received aggregate consideration of $1.1 billion, consisting of approximately $960 million in cash and shares of common stock representing an approximate 28% interest in the outstanding common stock of DigiCert valued at $160 million as of October 31, 2017. During our fourth quarter of fiscal 2018, the cash consideration was adjusted to $951 million as a result of sales price adjustments.
As of October 31, 2017, our WSS and PKI solutions had net assets of $450 million. In addition, we had $8 million in cumulative currency translation losses related to subsidiaries that were sold, which was reclassified from Accumulated other comprehensive income (loss) to the gain on divestiture. We incurred direct costs of $8 million, which was netted against the gain on divestiture. During our third quarter of fiscal 2018, we recognized a gain on divestiture of $658 million, consisting of a $7 million gain on the sale of a short-term investment that was included in the transaction and a $651 million gain on the sale of other assets and liabilities. During our fourth quarter of fiscal 2018, the total gain on sale was adjusted to $653 million as a result of sales price adjustments. The tax expense on the gain on divestiture was $123 million.
Income before income taxes for our WSS and PKI solutions during the three and nine months ended December 29, 2017 was $8 million and $66 million, respectively.