Real estate consulting firm Altus Group said it will acquire Realm Solutions Inc for $130 million, to offer commercial real estate data and analytics to its clients, and expects to cut its quarterly dividend by half. Realm owns Argus Software, a provider of software for analysis and management of commercial real estate investments. The deal is expected to immediately add to Altus' adjusted earnings and cash flow as the acquisition will bring it 4,600 clients in 45 countries. The transaction will be funded by paying $80 million in cash and by issuing $50 million of debt to some Realm shareholders. Altus is being advised by BMO Capital Markets for the deal, which is expected to close in the second quarter.
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