MONTREAL and TORONTO, Jan. 21, 2020 (GLOBE NEWSWIRE) -- WSP Global Inc. (TSX: WSP) (“WSP”), one of the world's leading professional services firms and Altus Group Limited (TSX: AIF) (“Altus Group”), a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry, announced today that they have agreed, subject to definitive documentation, to combine their respective geomatics business units. The combined entity will be comprised of approximately 750 employees, with offices in Western Canada and Ontario.
“We are pleased to announce our intention to form this new company, delivering on our commitment to challenge the status quo and optimize our operations on an ongoing basis,” stated Ryan Brain, President and Chief Executive Officer of WSP in Canada. “The combination of these businesses with complementary geographical and sector expertise will create a leading Canadian geomatics firm and one that will be broader in scope than either company individually.”
“Altus Group and WSP have an excellent track record of maximizing the value of their business assets, and this combination will further position our respective geomatics businesses with compelling market advantages to better serve their clients and maximize future growth and innovation opportunities,” commented Angelo Bartolini, Chief Financial Officer of Altus Group.
John Nielsen, who is currently Senior Vice President, Operations - Infrastructure, at WSP in Canada, and Mitch Ettinger, who is currently President of Altus Group’s Geomatics business unit, will respectively be President & Chief Executive Officer and Chief Operating Officer of the new company.
“I am proud to have been entrusted to lead this new company. With a clear focus on geomatics, we will emerge as a leading geomatics firm in Canada, able to serve our clients with best in class geomatics services and expertise. Also, from the combined strength of our teams, we will be able to position the firm for long-term growth,” said John Nielsen.
The transaction, which is subject to finalization of definitive documentation, is expected to close in the second quarter of 2020.
ABOUT ALTUS GROUP LIMITED
Altus Group Limited is a leading provider of software, data solutions and independent advisory services to the global commercial real estate industry. Our businesses, Altus Analytics and Altus Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,500 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants.
ABOUT WSP
As one of the world's leading professional services firms, WSP provides engineering and design services to clients in the Transportation & Infrastructure, Property & Buildings, Environment, Power & Energy, Resources and Industry sectors, as well as offering strategic advisory services. Our experts include engineers, advisors, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals. With approximately 50,000 talented people globally, we are uniquely positioned to deliver successful and sustainable projects, wherever our clients need us. wsp.com
FORWARD-LOOKING STATEMENTS
Certain information regarding WSP and Altus Group contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, as well as the fact that closing of the transaction is conditioned on certain events occurring, including finalization of definitive documentation. Although WSP and Altus Group believe that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. WSP's and Altus Group’s forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect WSP's and Altus Group’s actual or projected results are included in their Management’s Discussion and Analysis for the year ended December 31, 2018, which are available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and neither WSP, nor Altus Group assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Isabelle Adjahi
Senior Vice President, Investor Relations and Communications
WSP Global Inc.
Tel: (438) 843-7548
[email protected]
Camilla Bartosiewicz
Vice President, Investor Relations
Altus Group Limited
Tel: 416-641-9773
[email protected]