“We have a long working history with RealNet and believe that the formal integration of our substantial assets will benefit all of our clients and each of our business units,” Bob Courteau, CEO of Altus Group, said in a press release. “The acquisition broadens Altus Group’s Canadian full-service offering, enhances its data and market research revenue stream and furthers the Company’s strategy of building out its data solutions.”
Altus provides a wide variety of consulting services for the real estate community, which includes its research, valuation and advisory (RVA) team, as well as its ARGUS software, which helps users to analyse and manage commercial real estate investments.
RealNet, meanwhile, provides market research and tools designed specifically for agents. It will work closely with Altus’ RVA division.
Altus Group, a provider of independent commercial real estate consulting and advisory services, acquired Canadian real estate information services company RealNet in a transaction valued at $20 million.