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Canada's Altus Group buys French software provider

Canadian commercial real estate services provider Altus Group Ltd. paid €20.0 million in cash and common shares for Paris-based investment software provider Taliance Group.

The deal will result in the integration of Altus' ARGUS Enterprise, a standard for asset and portfolio management, with Taliance, allowing clients to model equity and debt investments, provide waterfall distribution reporting and gain insights into risks and opportunities. The acquisition is expected to strengthen Altus' position in Europe, while also driving its growth in the fund management sector.

Upon closing of the purchase, roughly €17.8 million was drawn from the company's revolving term facility and €2.2 million of common shares were issued from treasury. Taliance's team, including its founder and CEO Guillaume Fiastre, will become part of Altus' Analytics software and data division, according to a release.