Altus Group Ends Buyer Search and Appoints New CEO
Altus Group, the company behind the Argus real estate software, has completed its strategic review and decided to remain a publicly traded firm. The board also announced leadership changes as the company enters a new phase focused on profitability.
Leadership Transition
The firm announced the immediate departure of CEO Jim Hannon alongside its third-quarter results. He is succeeded by Mike Gordon, who previously led Altus Group until 2020. Gordon described the company as being at a pivotal point of transformation.
“As Altus Group enters its next growth phase, our focus shifts from operational build-out to accelerating market adoption of our new product innovations and improving our profitability and focus across the business,” said Gordon.
Strategic Review and Market Decision
The Canadian software and data analytics company had confirmed in August that it was exploring strategic alternatives, including a potential sale. However, after assessing market offers, executives chose to continue as a publicly traded entity and concentrate on expanding the company’s revenue base.
“As we also talked with Jim, we just came to the same conclusion, and that was how we jumped into this as we were going to enter into 2026,” said Gordon.
Gordon noted that the strategic review drew several “pretty good” offers but the leadership determined self-driven growth to be the best course forward.
Author’s Summary
Altus Group ends its search for buyers, reinstates former CEO Mike Gordon, and refocuses its strategy on innovation and profitability as it heads into 2026.