Altus Group Broadens Commercial Real Estate Development Software Offerings with Acquisition of EstateMaster
TORONTO & SYDNEY (March 1, 2017) – Altus Group Limited (ʺAltus Groupʺ or “the Company”) (TSX: AIF), a leading provider of commercial real estate services, software and data solutions, announced today that it has acquired EstateMaster Group Holdings PTY Limited (“EstateMaster”), an Australian-based property development feasibility and management software provider.
“The acquisition of EstateMaster broadens our product offerings with software solutions complementary to our ARGUS Developer product, while adding market share in our growth regions, including Australia and the Middle East,” said Robert Courteau, Chief Executive Officer of Altus Group. “Their established track record of growth, combined with their impressive team and solid industry reputation will add value to our growth initiatives.”
Founded in 1991, EstateMaster is a property development feasibility and management software provider to over 1,000 firms predominately in the real estate developer community. With a leading market position in Australia and the Middle East, the EstateMaster Development Feasibility software is the accepted market standard for the production of feasibility reports in the Australian property markets, including all national banks, professional associations and government bodies. EstateMaster’s team of 14 professionals will be integrated into the Company’s Altus Analytics software and data division, strengthening its sales and development capacity and cross-selling capabilities in support of the Company’s strategy to expand market presence in the Asia Pacific and Middle East regions.
About Altus Group Limited
Altus Group Limited is a leading provider of independent advisory services, software and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our securities are traded on the TSX under the symbols AIF and AIF.DB.A.
Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes information that relates to, among other things, objectives, strategies and intentions, and future financial and operating performance and prospects. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “plan”, “would”, “could” and other similar terminology. All of the forward-looking information in this press release is qualified by this cautionary statement. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Altus Group at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. Please consult Altus Group’s most recent regulatory filings on SEDAR for more information on the Company’s forward-looking statements.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations