Overview

• Altus Group, the Toronto-based provider of the ARGUS commercial real-estate valuation and analysis software, confirmed Wednesday that it has launched a formal strategic review that could include a sale or merger.
• The company has retained investment bankers to solicit acquisition interest, with private equity firms seen as among the most likely bidders.
• In its announcement, Altus warned the process may not lead to any deal and said it will limit commentary to disclosures required by regulators.
• The review follows a second-quarter earnings miss and a trimmed 2025 revenue-growth forecast that company executives attributed to muted transaction activity and uncertainty over tariffs on Canadian goods.
• Altus’s shares rallied more than 9% after initial reports of sale exploration and climbed further on Wednesday following the public confirmation of the strategic review.