$58.5 million Deal from Finastra
Dominion Lending Centres – DLC has acquired Filogix from Finastra Holdings Limited for $58.5 million in cash, a deal that puts a mortgage giant in control of the two platforms its own brokers and competitors have long depended on to submit deals to lenders.
Filogix’s Expert, Expert Plus, and FXLink platforms to DLC Group’s existing technology portfolio. That portfolio already includes Newton Connectivity Systems’ Velocity platform — meaning a single publicly traded company now holds ownership stakes in the two dominant submission networks that Canadian mortgage brokers use to get deals to lenders.
Filogix platforms link more than 8,000 mortgage brokers with approximately 350 lenders and other industry participants. In the 12 months ended May 31, Filogix processed approximately $60 billion in funded mortgage volumes, according to DLC Group.
DLC Group expects Filogix to contribute between $15 million and $18 million in adjusted EBITDA in its first 12 months under new ownership, and the acquisition is projected to be immediately accretive to adjusted earnings per share.
The $58.5 million purchase price was financed through existing liquidity and credit facilities, including a new $65-million term facility with Toronto-Dominion Bank.
Full Read:
- www.mpamag.com
- https://www.mpamag.com/ca/mortgage-industry/industry-trends/dlcg-announces-deal-to-buy-filogix/584828?hsmemberId=624931&tu=cab225e9-a56e-4453-ba7a-30cbd695b619&utm_campaign=&utm_medium=20260804&_hsenc=p2ANqtz-_Xf-HG125KYcQHy33zNc_6cbbJ0HeiJR12MczeDwNKrRfanFFpYsDZkV728VckBlUv1Z65-62cSKVr2qySlkFWXld6rXHEYBbjP6-RSSkQ2DWORm8&_hsmi=431532324&utm_content=cab225e9-a56e-4453-ba7a-30cbd695b619&utm_source=
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