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National  + Finance  |  November 11, 2021
Paul Bubny
By: Paul Bubny

Altus Group Acquires Reonomy for US$202M

Altus Group Limited said Thursday evening it would acquire AI-powered data platform Reonomy for US$201.5 million. The transaction was expected to close on Nov. 12 

“The combination of Reonomy’s AI-powered data platform with Altus’ suite of software, data and analytics capabilities creates a very compelling client offering that will enable our clients to better manage performance and risk within their CRE portfolios with data-driven insights, predictive analytics and alert capabilities,” said Mike Gordon, CEO of Toronto-based Altus. 

Richard Sarkis, executive chairman of New York-based Reonomy, added, “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.”

Pictured; Richard Sarkis. 

Read More News Stories About: Altus Group
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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