TORONTO, May 04, 2022 (GLOBE NEWSWIRE) — Altus Group Limited (ʺAltus” or “the Company”) (TSX: AIF), a market leading Intelligence as a Service provider to the global commercial real estate (“CRE”) industry, announced today that on May 1, 2022, it acquired Rethink Solutions Inc. (“Rethink Solutions”), the developer of the itamlink property tax management software. The acquisition brings a complementary software offering, property tax-focused technical talent, and strong customer relationships.
“Trusted by many large organizations across the U.S. and Canada, the itamlink software helps clients improve productivity by efficiently managing real estate tax and assessments across multi-property portfolios,” commented Alex Probyn, Global President of Property Tax at Altus. “It’s a highly complementary addition to our current portfolio of solutions that will enhance value for clients on both sides. This acquisition, and its incredible team, is also an important building block for our technology strategy to drive industry innovation through an end-to-end property tax management platform.”
Rethink Solutions is a leading North American developer of property tax and real estate expense management software. Established in 2001 in Toronto, its team of approximately 35 property tax management and technology experts are dedicated to building software solutions that help owners and occupiers of multi-property real estate portfolios manage their multi-jurisdictional property tax processes. Its flagship itamlink software provides a comprehensive tax management solution used by many organizations across the U.S. and Canada to optimize property tax processes. The software enables customers to centralize property tax data, automate processes with configurable integrations, and includes built-in data management tools, intuitive dashboards, and reports related to managing assessments, payments and tax appeals.
“Our mission is to modernize property tax management to help owners and occupiers of multi-property portfolios effectively manage one of their largest operating expenses – property taxes,” said Mordechai Katzman, President of Rethink Solutions. “Altus Group is an ideal fit for itamlink, and shares in this mission. We are very excited to work together to address the substantial opportunity in the property tax software market.”
About Altus Group
Altus provides the global commercial real estate industry with vital actionable intelligence solutions driven by our de facto standard ARGUS technology, unparalleled asset level data, and market leading expertise. A market leader in providing Intelligence as a Service, Altus empowers CRE professionals to make well-informed decisions with greater speed and scale to maximize returns and reduce risk. Trusted by most of the world’s largest CRE leaders, our solutions for the valuation, performance, and risk management of CRE assets are integrated into workflows critical to success across the CRE value chain. Founded in 2005, Altus is a global company with approximately 2,600 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit 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 information that relates to, among other things, objectives, strategies and intentions, and future financial and operating performance and prospects. 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 Altus Group 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. Please consult Altus’ most recent regulatory filings on SEDAR for more information on the Company’s forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chief Communications Officer, Altus
FOR MEDIA INQUIRIES PLEASE CONTACT:
Director, Global Communications, Altus