Monday, June 27, 2022

Teranet marches on following sale

It’s business as usual at Teranet Inc. following the Ontario government’s sale of its stake in the e-service solutions provider.

“I personally think it is a very exciting place to be because of the projects that we have and the nature of the work that we have,” said Michael A. Sliwinski, vice-president of information services at Teranet. “Quite frankly, I don’t see [the sale] as advantageous or disadvantageous.”

Sliwinski said the fact the province is willing to part with its share of the company shows how much trust the government has in Teranet – which operates the province’s Electronic Land Registration System (ELRS).

“I think it’s great, it really displays that the government has a lot of confidence in our ability to operate….and I take that with a sense of pride that we’ve lived up to our commitment over the past 12 years,” he said.

According to a statement made by the province, the decision to sell its 50 per cent share in Teranet for $370 million to Teramira Holdings Inc. was part of a plan formulated by the Ontario government in 1991.

Bonnie Foster, a Teranet spokesperson, said the company will continue the “hand in glove” relationship it shares with the provincial government through its contracts with the Ministry of Consumer and Business Services – a sector of government that shares the responsibility of managing the electronic land registry system.

Teranet can be found online at www.teranet.ca

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Jim Love, Chief Content Officer, IT World Canada

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