- Ryan acquires Altus Group’s property tax services for $518 million.
- The deal expands Ryan’s global tax services, including in the UK, US, and Canada.
What happened: Ryan’s $518M acquisition of Altus Group’s property tax unit boosts global expansion
Ryan, a Dallas-based tax services and software firm, has successfully completed its $518 million acquisition of Altus Group’s property tax services business, marking a significant expansion of its global operations. The transaction, valued at CAD 700 million, includes Altus’s renowned property tax management software itamlink, which helps clients manage complex property tax bills and expenses efficiently.
Additionally, Ryan will benefit from a three-year subscription to Altus Market Insights, a data-driven platform that enhances market intelligence and strategic decision-making.
Altus Group, a leading Canadian company recognised for its commercial real estate (CRE) analytics and consultancy services, reported $194 million in revenue from its property tax division in 2023. The acquisition broadens Ryan’s market reach, establishing a stronger presence in the UK and reinforcing its foothold across Canada and the United States.
As part of the agreement, approximately 1,000 Altus employees will join Ryan’s team, ensuring continuity of service for clients and strengthening Ryan’s property tax advisory capabilities globally.
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Why it’s important
This acquisition positions Ryan as a global leader in property tax services, meeting the rising demand for integrated solutions in the commercial real estate (CRE) sector. Property tax regulations across multiple jurisdictions often pose significant challenges for businesses, making expert advisory crucial for compliance, cost efficiency, and financial planning.
With the integration of itamlink and access to Altus Market Insights, Ryan is set to deliver enhanced, data-driven property tax services tailored to client needs. The inclusion of 1,000 former Altus staff ensures minimal client disruption and a seamless transition, strengthening operational expertise.
This strategic move not only boosts Ryan’s market share and geographic reach but also highlights a broader trend of consolidation within the fintech and tax consulting industries as firms evolve to offer end-to-end financial solutions for CRE enterprises managing complex portfolios.
