Altus Group explores potential sale after acquisition interest, Reuters reports
The Toronto-based company, which has a market capitalization of C$2.3 billion, has engaged investment bankers who have been reaching out to potential buyers in recent weeks, the sources said Tuesday. Private equity firms are expected to be among the interested parties that could potentially take Altus private.
Altus Group provides software, data solutions, and independent advisory services to the commercial real estate sector. Its ARGUS platform enables clients to perform property valuations, cash flow modeling, and portfolio management.
The company's stock has declined 5.1% over the past six months.
The sources, who spoke on condition of anonymity due to the confidential nature of the discussions, emphasized that no deal is guaranteed and Altus may ultimately decide to remain independent.
Following the news, Altus stock is up 1.4% in Toronto trade.
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