InfoTrack takes full ownership of PEXA rival Sympli in $300M settlement market

What's the deal? InfoTrack has acquired the ASX's remaining 49% stake in e-settlement platform Sympli, giving it full ownership of the only rival to market-dominant PEXA in Australia'US$220M property settlement market. Both InfoTrack and Sympli will be wholly owned by Sydney-based ATI Global, which runs several legal software companies.

Sympli was created in 2018 as a joint venture to challenge PEXA's grip on digital property settlements. The buyout consolidates the platform under a single private owner with deep roots in legal technology.

Why now? The deal comes after a blow to competition efforts in the sector. In late March, regulator ARNECC shelved a push for interoperability reform — which would have let practitioners on different electronic lodgement platforms transact with each other — in a move backed by lawmakers.

That decision was widely seen as a setback for Sympli and a win for PEXA. InfoTrack's move to take full control signals it isn't retreating from the fight.

What could go wrong? With interoperability reform shelved, Sympli faces a structurally tilted playing field. PEXA remains dominant and, according to industry figures, has played defence aggressively. Without regulatory action to open the market, Sympli may struggle to gain meaningful share regardless of ownership changes.

Chris Lane, chief executive of digital conveyancing group Deep Blue Company, acknowledged that Sympli "obviously needs to sit in a privately-owned business for a period of time, given how defensive PEXA has been."

The signal: Industry leaders read the deal as a vote of confidence in competition — and a sign that the interoperability fight isn't over. AIC Victoria president Shakila Maclean said the acquisition "means that we haven't lost hope."

"Even though it's been difficult, it shows they're still going down that path," Maclean said. She expects InfoTrack's full ownership will accelerate innovation at Sympli and expand consumer choice.

The broader pattern is familiar: a well-capitalised private player doubling down on a regulated market where incumbents benefit from structural advantages. Whether ATI Global can translate ownership consolidation into real competitive pressure depends largely on whether regulators revisit interoperability down the line.

Read more: australianconveyancer.com.au