Real estate services and investment firm transitions toward ARGUS Enterprise while continuing use of other ARGUS software solutions globally across its capital markets, valuation and advisory businesses
TORONTO, ONTARIO--(Marketwired - Jun 10, 2015) - ARGUS Software Inc. ("ARGUS"), the leading global provider of commercial real estate software solutions (a subsidiary of Altus Group) (TSX: AIF), is pleased to announce that CBRE Group, Inc. ("CBRE"), the world's largest commercial real estate services and investment firm, will use ARGUS Enterprise ("AE"), along with existing ARGUS software, to support its capital markets, valuation and advisory, and asset and investment management businesses worldwide.
This multi-year global agreement will improve productivity, enhance analytics around complex portfolio real estate data, and help clients manage risk.
"We continue to invest in transformative technology for our professionals that enable us to better evaluate, manage and derive insight from over $285 billion worth of annual commercial real estate transactions around the globe. The agreement with ARGUS is a strategic decision that adds ARGUS's strong product offerings to our platform in support of world-class services and value to our clients," said Jim Groch, CFO and Global Director of Corporate Development, CBRE Group.
Over 600 customers and thousands of users encompassing many of the industry's largest commercial real estate organizations rely on AE, including investors, owner operators, lenders, portfolio managers, and 8 of the 10 largest real estate service providers. AE brings significant value to the Asset and Investment Management process through an integrated global asset management platform that supports multiple valuation standards, provides superior investment visibility and delivers powerful reporting capabilities.
"We are both delighted and excited to continue to work closely with CBRE. As a truly global and diversified market leader, CBRE plays a vital role in connecting the commercial real estate ecosystem. The confidence they have shown in ARGUS and ARGUS Enterprise reflects our strength in helping clients around the world successfully manage today's broad range of real estate industry market pressures," said Mike Abramsky, President, ARGUS Software.
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About ARGUS Software Inc.
ARGUS Software, a subsidiary of Altus Group Limited, is the leading provider of software and solutions for analyzing and managing the value of real estate investments worldwide. ARGUS Software has a Global client base and has been dedicated to providing solutions to the commercial real estate industry for over 25 years. The ARGUS Software portfolio includes industry-standard products, including ARGUS Enterprise - the most open and integrated platform for valuation, budgeting and asset management solutions.
About Altus Group Limited
Altus Group Limited is a leading provider of independent advisory services, software, and data solutions to the global commercial real estate industry. All of our five core practices - Research, Valuation and Advisory, ARGUS Software, Property Tax Consulting, Cost Consulting and Project Management, and Geomatics - embody and reflect decades of experience, a broad range of expertise, and leading edge technology. Our offerings empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world's largest real estate industry participants, spread across a broad variety of sectors.
The Company is focused on creating sustainable shareholder value that generates long-term returns by targeting organic and accretive growth while providing quarterly dividend payments of $0.15 per share. Altus Group's securities are traded on the TSX under the symbols AIF and AIF.DB.A.
For more information on Altus Group, please visit: www.altusgroup.com.
Certain information in this press release may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, expectations with respect to the success of ARGUS Enterprise in the market. The forward-looking information reflects Altus Group's and management's current expectations, beliefs and assumptions regarding future events and operating performance and is based on information currently available to management. The assumptions made in making certain projections include, but are not limited to, the success of product development and launch initiatives, the supply and demand for ARGUS' products and services and the execution of certain business strategies. Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors which could cause actual results, performance or achievements of Altus Group to differ materially from any results, performance or achievements expressed or implied by such forward-looking information, including but not limited to: the general state of the economy; competition in the industry; ability to respond to technological change and develop products on a timely basis; protection of intellectual property or defending against claims of intellectual property rights of others; and performance of obligations/maintenance of client satisfaction; as well as those described in Altus Group's publicly filed documents, including the Annual Information Form (which are available on SEDAR at www.sedar.com). Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results.
Vice President, Global Marketing
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Altus Group Limited
Vice President, Investor Relations
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