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Subsequent Events
3 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events

16. Subsequent Events

Acquisition

On January 15, 2021, we acquired Arena Solutions, creators of a Software as a Service (SaaS) product lifecycle management (PLM) solution, for approximately $715 million, net of cash acquired. The acquisition, together with Onshape, our SaaS CAD offering, is expected to accelerate our ability to attract new customers with a suite of SaaS-based product offerings and position the company to capitalize on the SaaS market opportunity.

Borrowings under Credit Facility

In January 2021, we borrowed $600 million under our existing credit facility to acquire Arena, bringing our total outstanding indebtedness to approximately $1.6 billion.