Ryan completes $518m acquisition of Altus Group’s property tax services business
Ryan, a tax services and software company headquartered in Dallas, US, has completed the acquisition of Altus Group’s property tax services business for CAD 700 million (approximately $518 million).
Ryan has acquired Altus’ property tax services business
Founded in 2005 and based in Canada, Altus is a global provider of asset and fund intelligence for the commercial real estate (CRE) industry, providing technology, analytics, and consultancy services to help clients manage their CRE portfolios.
According to Ryan, the acquisition of Altus’ property tax services business, which generated revenue of CAD $263 million ($194 million) in 2023, “significantly expands Ryan’s global capabilities, including establishing a property tax presence in the United Kingdom and deepening its expertise and reach across Canada and the United States”.
As part of the transaction, Ryan is also acquiring Altus’s itamlink property tax management solution, which helps users manage property tax expenses and bills.
Additionally, Ryan adds that the deal “also includes a three-year subscription to Altus Market Insights”, providing the company with additional market intelligence tools.
Going forward, the company states that “clients can expect continued support from their existing service teams as well as proactive updates advising of transition and integration-related activities”, adding that approximately 1,000 Altus employees have now joined Ryan.
Ryan, which claims to be the “largest firm in the world dedicated exclusively to business taxes”, offers a wide range of services across multiple jurisdictions, including tax consulting, advocacy, recovery, compliance, and more.
Last year, the company sold “tax-specific AI capabilities” to tax technology provider Vertex for an undisclosed amount.
