InfoTrack assumes total ownership of Sympli
Eight years after joining the ASX to establish an e-settlement solution to challenge the market dominance of PEXA, InfoTrack has acquired its partner’s share to go it alone.
THE InfoTrack Group will acquire the ASX’s 49 per cent stake in e-settlement services provider Sympli.
The mutually agreed transaction announced today hands InfoTrack sole ownership of Sympli. The ASX said the acquisition price was “a nominal amount.”
Sympli was established through a collaboration between InfoTrack and the ASX as a challenger to PEXA’s market dominance.
InfoTrack Group CEO John Ahern said the transition did not change the company’s purpose.
“Eight years ago, we started Sympli because we believed, and still believe, that competition is fundamental to a healthy, resilient property industry,” he said.
“We will refocus and double down our efforts to finish what we started. There is no technical barrier to interoperability, only political will.
“We call on the regulator and governments to act and deliver the competition that was promised to our industry many years ago.”
Mr Ahern assured clients and industry stakeholders of continued innovation and investment in Sympli.
“We thank the ASX for its partnership and shared commitment to delivering competition, he said.
The structural and operational separation between InfoTrack and Sympli will remain.
“Sympli’s intent has always been, and will always be, to offer clients genuine choice,” Mr Ahern said.
“That commitment to independence and client-first values does not change with this transition. We uphold those values unconditionally.”
ASX issued a market announcement confirming the sale of its 49% interest in Sympli “for a nominal amount.”
“This will result in an after-tax loss of approximately $12 million being recognised as a significant item in FY26,” ASX stated.
“On completion, we will no longer recognise our share of the operating losses of Sympli which were $4.4 million after tax in 1H26.”
The sale follows the March 31 decision by the Australian Registrars National Electronic Conveyancing Council (ARNECC) not to proceed with the e-conveyancing interoperability program without Commonwealth Government support.
InfoTrack has expressed profound disappointment with ARNECC’s announcement.
“The regulator and governments have had every opportunity to act and have chosen not to,” Mr Ahern said.
“It is a failure for the lawyers and conveyancers who work every day to serve their clients and deserve a competitive, functional market.
“It is a failure for everyday Australians who deserve far better than a system with no choice, and no resilience.”
InfoTrack, established two decades ago, is Australia’s leading legal technology platform.
