Canadian real estate software firm Altus Group sells global property tax business to Ryan LLC for $700M, using proceeds for debt repayment, investments, and expanding share buyback.
Altus Group Ltd., a Canadian real estate software and services firm, has agreed to sell its global property tax business to US-based tax services and software company Ryan LLC for $700 million. The proceeds will be used to repay debt, fund organic investments, and expand the share buyback program. Ryan LLC will also subscribe to an Altus Market Insights subscription service for three years at an annual cost of $5 million. The deal is subject to regulatory approvals and typical closing conditions, and is expected to close in the first half of 2025.
July 09, 2024
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