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Altus Group
Canadian provider of software for commercial property From Wikipedia, the free encyclopedia
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Altus Group Limited, headquartered in Toronto, Canada, provides software, data, and consulting services for owners and operators of commercial property. Its Altus Analytics segment provides software sold under the Argus brand as well as appraisal and data programs. The CRE Consulting segment provides services for valuation and cost advisory.[2][1]
The company originally focused on consulting services before expanding into software.[3]
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2005–2011: Inception under Gary Yeoman
In May 2005, Altus Group became a public company via an initial public offering, raising $75 million. This coincided with the merger of three Canadian commercial real estate consultancies, one of which was led by its first CEO, Gary Yeoman.[4]
Altus initially listed on the Toronto Stock Exchange as an income trust and converted into a corporation when the Canadian federal government implemented new taxes on trust distributions in 2011.[5]
In its first five years, the company expanded through acquisitions.[5]
In September 2007, the company expanded its property tax practice into the UK market with the acquisition of Edwin Hill for £26.5 million.[6][7]
In August 2009, The company expanded its cost consulting practice to the Asia Pacific region through the acquisition of Page Kirkland.[8]
In August 2010, it acquired the real estate appraisal business of PwC.[9]
The company acquired Brazos Tax in 2010.[10]
In 2011, it entered the software market with the acquisition of Argus Software for $130 million.[11]
2011–2020: Expansion into software and data under Robert Courteau
In November 2011, Gary Yeoman resigned as CEO and in 2012.[4][12] In September 2012, Robert Courteau, previously president of SAP North America, became CEO.[13]
In November 2014, it acquired SC&H Group’s State & Local Tax Practice.[14]
In 2014, the company acquired Voyanta, a provider of real estate data management and analytics software, for $7.4 million.[15][16][17]
In December 2015, the company acquired Integrated Real Estate Resources, which provides software implementation to the commercial real estate industry.[18]
In 2017, the company acquired CVS Business Rates for £36.3 million.[19]
In January 2018, it acquired New Market Real Estate.[20]
In February 2018, it acquired Aspect Property Consultants.[21] In July 2018, it acquired Taliance, a provider of modelling and forecasting tools for CRE investors.[22] In April 2019, it launched a cloud-supported version of its Argus Enterprise product.[23]
2020–present: Software as a service strategy under Mike Gordon & Jim Hannon
In June 2020, the Geomatics business was merged with that of WSP Global to form Geoverra.[24]
In September 2020, Courteau retired and was succeeded as CEO by Mike Gordon, previously CEO of Callcredit Information Group, a U.K.-based provider of consumer data for businesses.[25][26]
In April 2021, it acquired Finance Active, a provider of debt management software.[27]
In May 2021, it acquired Stratodem for $24.4 million.[28]
In November 2021, it acquired Reonomy for $249.5 million.[29][30][31]
Jim Hannon, previously president of Altus Analytics, succeeded Mike Gordon as CEO on April 1, 2022.[32]
In May 2022, the company acquired Rethink Solutions, the developer of the itamlink property tax management software.[33][34]
In 2024, the company proposed acquiring the commercial real estate valuation services business of Situs, but the acquisition was terminated after failing to get regulatory approval.[35][unreliable source?]
In January 2025, Ryan LLC acquired the company's real estate tax services business for C$700 million.[36]
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References
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