Altus Group’s Sale of Property Tax Business to Ryan, LLC

On July 9, 2024, Altus Group Limited (“Altus Group”), a leading provider of asset and fund intelligence for commercial real estate, announced that it has signed a definitive agreement to sell its global Property Tax business to Ryan, LLC (“Ryan”), a leading global tax services and software provider, for total cash consideration of C$700 million. In addition to the definitive agreement, Ryan has also committed to enter a C$15 million Altus Market Insights subscription agreement at the close of the transaction, with an initial three‑year term of C$5 million per year. Cravath is representing Altus Group as U.S. counsel in connection with the transaction.

The Cravath team is led by partner Jihyun Chung on M&A matters; partner Cole DuMond on financing matters; partner Arvind Ravichandran and associate William Swisher on tax matters; partner Amanda Hines Gold, practice area attorney David Crampton and associate Anna Mikaelyan on executive compensation and benefits matters; and partner Noah Joshua Phillips and of counsel Nicole M. Peles on antitrust matters. Penina Su also worked on M&A matters.