|VFA to Acquire Altus Group's
Capital Planning Division
|BOSTON, MA and BURNABY, BC - - VFA Inc. and VFA Canada Corp., providers of end-to-end solutions for facilities capital planning and asset management, have signed a purchase agreement to acquire the Altus Capital Planning division of Altus Group.
Closing is scheduled to take place on or before June 30, 2012, subject to the satisfaction of certain conditions. The acquisition will enable VFA to build upon its leadership position for facilities capital planning in North America and gain a significant number of impressive customers and partners.
Financial terms were not disclosed.
"The combination of VFA and Altus Capital Planning technology will provide us an opportunity to offer the best facilities capital planning solution available in the marketplace today," said Jerry Kokos, president and CEO, VFA. "VFA will reap the benefits of an economy of scale for the development of innovative technology to help customers worldwide best meet their facilities capital planning challenges. I look forward to this next phase in our company's growth."
Altus Capital Planning's customers represent a cross-section of institutional and corporate sectors including manufacturing, municipalities, telecommunications, provincial governments, universities, colleges, healthcare, financial and real estate property management organizations.
VFA is a global provider of end-to-end solutions for facilities capital planning and sustainability. It combines facility assessment services, web-based software and business consulting services to enable customers to manage every stage of the capital asset lifecycle -- from requirements gathering and long-term planning to capital budget creation and spend management.