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Acquisitions and Divestitures
6 Months Ended
Mar. 31, 2021
Business Combinations [Abstract]  
Acquisition and Divestitures Acquisitions and Divestitures
In April 2021, the Company announced it had entered into a definitive agreement to acquire Silent-Aire, a global leader in hyperscale data center cooling and modular critical infrastructure solutions. The all-cash transaction is valued at up to $870 million, which will include an upfront payment of approximately $630 million at closing and additional payments to be made subject to the achievement of post-closing earnout milestones. The Silent-Aire business will be reported within the Global Products segment. The transaction is expected to close in the third quarter of fiscal 2021, subject to the receipt of regulatory approval and customary closing conditions.

During the first six months of fiscal 2021, the Company completed certain acquisitions for a combined purchase price, net of cash acquired, of $15 million, of which $10 million was paid as of March 31, 2021. In connection with the acquisitions, the Company recorded goodwill of $13 million within the Building Solutions EMEA/LA segment.

During the first six months of fiscal 2021, the Company completed certain divestitures within the Buildings Solutions Asia Pacific segment. The combined selling price was $23 million, of which $19 million was received as of March 31, 2021. In connection with the divestitures, the Company reduced goodwill by $6 million.

During the first six months of fiscal 2020, the Company completed certain acquisitions for a combined purchase price, net of cash acquired, of $61 million, of which $58 million was paid as of March 31, 2020. In connection with the acquisitions, the Company recorded goodwill of $19 million within the Global Products segment and $20 million within the Building Solutions EMEA/LA segment.

Acquisitions and divestitures were not material to the Company's consolidated financial statements in the first six months of fiscal 2021 or 2020.