$58.5m move sees mortgage giant acquire prominent tech platform
Dominion Lending Centres Inc. 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.
The deal, announced August 4, adds 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.
It is the first time both platforms have sat under common ownership.
A consolidation of Canada's mortgage plumbing
Filogix platforms link more than 8,000 mortgage brokers with approximately 350 lenders and other industry participants, supporting the mortgage application process from submission through underwriting and providing workflow, compliance, and data tools across the ecosystem. In the 12 months ended May 31, Filogix processed approximately $60 billion in funded mortgage volumes, according to DLC Group.
"This is a highly strategic acquisition for the DLC Group," said Gary Mauris, co-founder and chief executive officer of Dominion Lending Centres Inc. in British Columbia.
"By bringing both Filogix and Velocity under the DLC Group banner, we significantly enhance our access to real-time market data and insights, while adding important redundancy across our critical connectivity infrastructure to ensure reliable and operational resilience for our customers."
Despite landing under a common owner, Filogix will operate as a standalone, wholly owned subsidiary, remaining functionally separate from Newton Connectivity Systems.
DLC Group said the structure is intended to preserve uninterrupted service for existing Filogix customers and partners. The company committed to continued investment in Filogix's technology infrastructure, customer service, and data security.
Deal financials signal immediate earnings lift
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.
DLC Group's existing revolving credit facility was simultaneously reduced from $40 million to $30 million, with other key terms unchanged. Pro forma leverage is expected to sit at approximately 1.65 times total debt to trailing adjusted EBITDA as of June 30, 2026.
The acquisition arrives as technology consolidation accelerates across the Canadian mortgage landscape. In March 2026, Royal Bank of Canada moved to acquire mortgage qualification platform Pinch Financial, a separate but parallel signal that lenders and networks alike are racing to own the digital infrastructure closest to the broker-client relationship.
"Over its 30-year history, Filogix has become a trusted partner to brokers, lenders and suppliers," Mauris said.
"Filogix will continue to operate as a standalone business within DLC Group, ensuring a seamless transition for customers and partners and a dedicated team focused on supporting all its partners."
Raymond James Ltd. and Desjardins Capital Markets acted as financial advisers to DLC Group; Bennett Jones LLP served as legal counsel.
RBC Capital Markets advised Finastra Holdings Limited, with Stikeman Elliott LLP acting as legal counsel.
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