New Business Unit Combines Industry-Leading Software, Data Solutions, and Related Services Into a Powerful Platform for Greater Visibility
TORONTO, ONTARIO--(Marketwired - March 1, 2016) - Altus Group Limited ("Altus Group" or "the Company") (TSX:AIF), a leading provider of commercial real estate ("CRE") services, software and data solutions, is pleased to announce, consistent with its stated strategy, the formation of a new business unit called Altus Analytics Solutions, through the combination of Altus Group's market leading ARGUS Software and Research, Valuation and Advisory's ("RVA") US, Europe and Voyanta operations. This high growth business unit will be led by Robert Ruggles, previously President of RVA US & Europe.
The combination of our data, technology and analytics offerings into one division enhances our ability to innovate and integrate our current solutions faster and more effectively for our clients. This new business unit strengthens the coordination of our sales, marketing, customer support, software development and service teams leading to a more compelling value proposition for clients in the CRE market.
Altus Analytics Solutions' global offerings will enable aggregation of CRE data from all relevant sources allowing historic and forward-looking analyses and benchmarking of performance and risk. The new division further provides real estate owners, investors, lenders and service providers with an unprecedented level of transparency and confidence in making timely and accurate investment decisions to mitigate risk and optimize investment returns.
"The CRE industry is increasingly placing greater importance on the value of data and software to achieve improved accuracy, transparency and deeper insight around their assets. Altus Analytics Solutions delivers an integrated platform enabling clients to unlock the potential from a variety of data sources, powerfully delivering an advanced approach to risk assessment and performance measurement of their real estate portfolios," said Robert Ruggles, President of Altus Analytics Solutions.
Our software products will continue to be offered to our clients in ways that meet their needs either as stand-alone applications, such as ARGUS Enterprise® or Voyanta, or as deeply integrated solutions enabling powerful analytics, including the ability to analyze valuation, operational, financial, leasing and market data from a single web interface.
"This move is an important step in realizing our vision as a provider of the most innovative solutions for the global CRE market," said Robert Courteau, Chief Executive Officer at Altus Group. "Altus Analytics Solutions will allow us to increase consistency and agility in the way we manage, build and deliver solutions for the global CRE economy."
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. Each of our five core practices -- Altus Analytics Solutions, Research, Valuation and Advisory, Property Tax Consulting, Cost Consulting and Project Management, and Geomatics -- embody and reflect decades of experience, a broad range of expertise, and leading edge technology. Our offerings empower clients to analyze, gain market 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, spread across a broad 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.
For more information on Altus Group, please visit: www.altusgroup.com.
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, but is not limited to, the discussion of our business and operating initiatives, focuses and strategies, our expectations of future performance for our various business units and our consolidated financial results, and our expectations with respect to cash flows and liquidity. 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 us 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. The material factors or assumptions that we identified and were applied by us in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: the successful execution of our business strategies; consistent and stable economic conditions or conditions in the financial markets; consistent and stable legislation in the various countries in which we operate; no disruptive changes in the technology environment; the opportunity to acquire accretive businesses; the successful integration of acquired businesses; and the continued availability of qualified professionals.
Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: general state of the economy; currency risk; oil and gas sector; ability to maintain profitability and manage growth; commercial real estate market; competition in the industry; ability to attract and retain professionals; information from multiple sources; reliance on larger software transactions with longer and less predictable sales cycles; success of new product introductions; ability to respond to technological change and develop products on a timely basis; protection of intellectual property or defending against claims of intellectual property rights of others; information technology governance and security; integration of acquisitions; fixed-price and contingency engagements; appraisal and appraisal management mandates; Canadian multi-residential market; weather; legislative and regulatory changes; customer concentration; interest rate risk; credit risk; income tax matters; revenue and cash flow volatility; operating risks; performance of obligations/maintenance of client satisfaction; risk of future legal proceedings; insurance limits; ability to meet solvency requirements to pay dividends; leverage and restrictive covenants; unpredictability and volatility of common share price; capital investment; and issuance of additional common shares diluting existing shareholders' interests, as described in Altus Group's publicly filed documents, including the Annual Information Form for the year ended December 31, 2015 (which are available on SEDAR at www.sedar.com).
Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management's current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, our financial or operating results, or our securities.