Altus Group Limited, a provider of software, data solutions and independent advisory services to the global commercial real estate (CRE) is to acquire portfolio company Reonomy, an AI-powered data platform for the CRE industry, for $201.5m, subject to adjustments.
Richard Sarkis, Executive Chairman and Co-Founder of Reonomy, says: “I co-founded Reonomy with a very direct mission to solve a pressing pain-point in the CRE industry - to connect data and bring greater transparency to the CRE market at a time when credible information on this significant asset class was still scarce. Altus Group shares in our mission and has played a pivotal role in advancing the transformation of the CRE industry. We are very excited about the opportunities that joining Altus Group will bring and how it paves the way for continued innovation. Leveraging Altus’ unique position in the CRE value chain with our data and analytics capabilities is exceptionally powerful and I’m confident that together we will create considerable value for our industry and combined stakeholders.”
https://www.privateequitywire.co.uk/2021/11/12/309162/altus-acquires-reonomy