Software is everywhere today, and we are getting quite habitual of doing most of the important daily works using this software. Companies from almost every industry have raised above the physical ledgers and have started to save and process their data on computers using specialized software. Developers have also taken advantage of this opportunity, and we see new sorts of software coming into the market almost every day. Altus Group is one such company that has made it big in the industry by providing similar software for real estate. Yes, there is software customized for easing out the jobs for the real estate industry too. Altus Group is a resultant group that came out of a merger between three famous real estate consulting companies, and today, it has made it big in the industry by building innovative software for the same industry.
About Altus Group
In 2005, three real estate consulting companies came together to merge and make Altus Group. In the beginning, the company offered the same old consultancy services to people, but eventually, it established its base as a software company as well. The company is only about 16 years old, but with its experienced past, it was able to make big in the industry through its two business segments, i.e., Atlus Analytics and Commercial Real Estate Consulting. Altus Group is a publically held company and trades on Toronto Stock Exchange with ticker AIF. The company headquarters is located in Toronto, Ontario, Canada, and about 2200 people are working for it. As per the latest records, Altus Group made revenues worth C$567 million for the last financial year (2020). The company has its clients based in North America, Europe, and the Asia Pacific.
Establishment of the Company
Gary Yeoman, a Canadian consultant, came together with two other major Canada-based real estate consultancy companies to build Altus Group. Along with its inception, the company went public on the Toronto Stock Exchange, and Yeoman became the first CEO of the newly founded company. In 2006, the company also entered the land surveying industry by opening a branch in Western Canada.
The real reason behind the growth of the company in such a small period was the strategic expansion it did through acquisitions. In 2007, Altus Group acquired Edwin Hill, and in 2009 it acquired Page Kirkland 2009, followed by the acquisitions of Brazos Tax in 2010, Complex Property Advisors in 2013, SC&H Group’s State & Local Tax Practice in 2014. The journey of the company as a software developer began with the acquisition of PricewaterhouseCoopers’s valuation management practice in 2010 and ARGUS Software in 2011. Altus started to trade for its software with the business name ARGUS.
In 2019, Altus as ARGUS launched the cloud-based version of ARGUS Enterprise product, one of the most popular products by the company. Currently, the company is focusing more on data, analytics, and technology solution. Altus made its latest acquisition was in November 2021, where it purchased an American real estate data company Reonomy.
The CEO at Altus Group
Mike Gordon is the current CEO of Altus Group. He is a Northwestern University Alumn, where he received a BS in Industrial Engineering. Gordon has also got an MBA in Finance and Business Economics from the University of Chicago. After working for a few companies at the start of his career, Gordon became the Vice President at Capgemini in 2001. Then he joined FICO and held different positions in a period of 9 years. In November 2014, Gordon switched to Callcredit Information Group and became the group CEO. He left the company to become the Chairman and Board Member at Hometrack. He has also served Fintech and Constructionline as the non-Executive Director. In September 2020, Gordon joined Altus Group and became the CEO of the company.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.