HOUSTON - In a move that combines two of the real estate industry's leading analytical software companies, Houston-based ARGUS Financial Software has acquired the assets of Clearwater, Fla.-based DYNA Software & Consulting and will operate under the ARGUS banner. Terms of the transaction, which is expected to close this month, were not disclosed.

The ARGUS and DYNA product lines are Windows-based models that analyze commercial real estate properties, portfolios and transactions. ARGUS specializes in software that analyzes financing, valuation, acquisition transactions and CMBS data, while DYNA's analytical software focuses on equity, development and the REIT industry. ARGUS will continue to produce each company's product line. ARGUS's short-term objective is to link DYNA and ARGUS databases for sharing and reporting data, furthering the company's goal of an international standard for the free exchange of real estate data.

"ARGUS has been in an expansion mode for some time, both with enhancement of international features and the develpoment of new products. In addition to DYNA, we have looked at a number of other acquisition targets," says Ronnie Dean, spokesperson for ARGUS, which will operate both the Florida and Houston offices. "With DYNA having a product suite that spoke to a slightly different market than ARGUS, we decided that offering a wider spectrum was better for our customer base."

ARGUS and DYNA reported combined sales of $12 million in 1998, originating primarily in the United States and Canada.