April 13, 2011

Owner of market leading ARGUS real estate software and solutions developer fetches $130M.

Willkie represented Realm Solutions, owner of ARGUS Software, in its $130M sale to Altus Group Limited. The deal, announced on April 12, 2011, consists of $80 million in cash and $50 million principal amount of 6.0% convertible unsecured subordinated debentures issued by Altus to certain of the Realm shareholders.

Realm Solutions is a portfolio company of private equity firms Insight Venture Partners, a longtime client of the firm, and Lightyear Capital, both of whom Willkie also represented in the deal. The firm had also represented the two PE firms in connection with their original leveraged buyout of Realm.

ARGUS Software is a global provider of systems solutions for analysis and management of commercial real estate investments. More than 4,600 of the real estate industry's leading owners, managers, financial institutions, brokerages and REITs in 45 countries on five continents use its products. Altus, with a network of more than 60 offices worldwide, is a multi-disciplinary provider of independent real estate consulting and professional advisory services.

Partners Gordon Caplan and Morgan Elwyn and associate Matthew Friedman worked on the current transaction.