The Altus Group concludes an agreement to acquire Finance Active


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TORONTO, March 09, 2021 (GLOBE NEWSWIRE) – Altus Group Limited (TSX: FIA) (the “Company” or “Altus Group”), a leading provider of independent software, data solutions and advisory services to the global commercial real estate industry (“CRE”), is pleased to ” announce that it has signed an agreement (the “Agreement”) regarding the proposed purchase of Finance Active SAS (“Finance Active”), one of the leading providers of SaaS debt management solutions for the management of CRE’s cash flow and investments. The Company previously announced on February 24, 2021 that it was in exclusive negotiations to acquire Finance Active.

In accordance with the Agreement, the Altus Group has made a firm and firm offer to acquire 100% of Finance Active for a proposed purchase price of € 100 million (debt-free, cash-free and subject to adjustments) , payable mainly in cash. The ultimate shareholders of Finance Active may accept the offer and deliver their shares to Altus Group for purchase subject to the completion of the works council process (defined below).

Founded in 2000, Finance Active is one of the main European providers of SaaS debt and financial risk management solutions for CRE’s cash management and investments. The company is headquartered in Paris, France, and serves more than 3,000 clients across Europe, including public entities, corporations and financial institutions. In 2020, Finance Active achieved gross sales of around 25 million euros. If the acquisition is completed, the Finance Active team will join the Company’s Altus Analytics activity.

Additional details

The cash portion of the purchase price will be funded primarily by drawing on the Company’s credit facility.

In accordance with the requirements of French law and as documented in the Agreement, Finance Active must undertake an information and consultation process with its Works Council (“Works Council Process”) prior to the acceptance of the offer by the ultimate shareholders of Finance Active and upon signature of the definitive share. purchase agreement. Under the terms of the Agreement, the sellers have accepted exclusivity commitments in favor of the Altus Group extending until December 31, 2021.

The definitive share purchase agreement will contain other conditions that must be met prior to the completion of the transaction, including the approval of the Toronto Stock Exchange. It is expected that, if completed, the transaction will close in the second quarter.

About Altus Group Limited

Altus Group Limited is a leading provider of independent software, data solutions and advisory services to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Commercial Real Estate Consulting, reflect decades of experience, a range of expertise and technological capabilities. Our solutions enable clients to analyze, better understand and recognize the value of their real estate investments. Based in Canada, we have approximately 2,200 employees worldwide, with operations in North America, Europe and Asia-Pacific. Our clients include many of the world’s largest players in the commercial real estate industry. Altus Group pays a quarterly dividend of $ 0.15 per share and our shares are traded on the Toronto Stock Exchange under the symbol AIF.

For more information on the Altus Group, please visit: www.altusgroup.com

Forward-looking information

Certain information contained in this press release may constitute “forward-looking information” within the meaning of applicable securities laws. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, the beliefs and expectations of the Altus Group regarding the proposed acquisition of Finance Active and the operational and financial outlook and other related expectations, the benefits that would be granted to clients, the benefits which are expected to be obtained as a result of the proposed transaction and the Company’s ability to increase shareholder value through, among other things, the acceleration of the expansion of the Altus Group and its marketing of CRE debt , improving the global capabilities for managing the Altus Group’s CRE assets and investments, growing the Company’s geographic footprint in Europe, improving the Company’s Altus Analytics recurring revenue base as well as providing cross-selling synergies with the Company’s valuation management, data analysis and ARGUS software solutions. Generally, forward-looking information can be identified by the use of words such as “could”, “will”, “expect”, “believe”, “plan”, “”. All forward-looking information contained in this press release is subject to this caution.

Forward-looking information is not and cannot be a guarantee of future results or events. Forward-looking information is based, among other things, on opinions, assumptions, estimates and analyzes which, although considered reasonable by the Altus Group at the date on which the forward-looking information is provided, are inherently subject to risks, uncertainties, contingencies and other factors that may cause actual results, performance or achievements, results or industry events to differ materially from those expressed or implied by forward-looking information. Significant factors or assumptions that have been identified and have been applied by the Altus Group in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to: the total addressable market for the Altus business Company analytics, as well as the business and operational initiatives of the Altus Group; its future performance expectations for its various business units; the successful execution of the Altus Group’s business strategies (including the success of its initiatives related to Active Finance); consistent and stable economic conditions or financial market conditions; consistent and stable legislation in the various countries in which Altus Group operates; no disruptive changes in the technological environment; the possibility of acquiring profitable businesses; the successful integration of the activities of the Altus Group; and the continued availability of qualified professionals. Forward-looking information is also subject to a number of risks, including, but not limited to: completion of the works council process; the effect of any additional regulatory conditions, if any, imposed by regulatory authorities; the reaction of Altus Group and Finance Active customers, employees and suppliers to the proposed transaction; the ability to quickly and efficiently integrate the activities and management of Finance Active with the Altus Group; the diversion of management time on transaction-related issues. Please see the most recent Altus Group regulatory documents on SEDAR for more information on the Company’s forward-looking statements and for additional risks relating to the Company.

Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. Forward-looking information reflects management’s current expectations and beliefs regarding future events and operational performance and is based on information currently available to management. Although the Altus Group has attempted to identify important factors which could cause actual results to differ materially from the forward-looking information contained herein, there are other factors which could cause the results to be inaccurate. those anticipated, estimated or planned. The forward-looking information contained herein is current as of the date of this press release and, except as required by applicable law, Altus Group does not undertake to update or revise it to reflect new events or circumstances. In addition, the Altus Group does not undertake to comment on analyzes, expectations or statements made by third parties with regard to the Altus Group, its financial or operating results or its securities.

FOR MORE INFORMATION, PLEASE CONTACT:

Altus Group Limited

Camilla BartosiewiczVice President, Investor Relations 416-641-9773[email protected]

Elizabeth Lambe Senior Director, Global Communications 416.641.9787 [email protected]

Source: Altus Group Limited

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