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Altus Group selling property tax business to Ryan LLC for $700 million

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Construction,Hardware,Software

Altus Group Ltd. has signed a deal to sell its global property tax business to tax services and software company Ryan LLC for $700 million.

Bay Street in Canada's financial district is shown in Toronto on Wednesday, March 18, 2020.THE CANADIAN PRESS/Nathan Denette

Ryan has also committed to an Altus Market Insights subscription deal at the close of the transaction, with an initial three-year term of $5 million per year. Once the deal is complete, Altus Group says it plans to use the proceeds to repay debt and pursue organic investments.

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Altus Group selling property tax business to Ryan LLC for $700 millionAltus Group Ltd. has signed a deal to sell its global property tax business to tax services and software company Ryan LLC for $700 million.
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