For more than 20 years, Teranet has been a pioneer in electronic land registration, working with the government of Ontario to allow thousands of customers of the government and end users access to some of the most innovative online property and writs applications in the world.
Teranet Timeline:
1991 Teranet is established as a Public-Private Partnership with the Province of Ontario to convert and automate Ontario's land registration system. This project involved converting a 200-year-old paper-based system to an electronic database with records for more than five million parcels of land.
1995 Teranet launches Teraview®, a cutting-edge application which allows end users to remotely search the Province of Ontario Land Registration Information System (POLARIS®) and view and print property parcels and images of documents.
1997 Teranet makes an agreement with the Ministry of the Attorney General to operate Ontario's Writs System.
1999 Teranet launches the first electronic registration through its Teraview application.
2000 - 2002 Teranet launches remote Writ Filing services and Provincial Wide Writs search capabilities.
2001 Teranet introduces the GeoWarehouse® channel. This was the company’s first large-scale value-added product, built upon Ontario land registration data, providing real estate professionals with access to property sales information such as date of sale and sales price. The GeoWarehouse application has evolved to include property assessment as well as neighbourhood demographic information and streetscape imagery.
2002 Teranet launches Purview® in Ontario. The Purview channel is an online automated valuation and fraud detection service offering risk and credit managers powerful risk management resources and applications. In 2005, Teranet began to expand its coverage nationally.
2003 The Government of Ontario sells its 50 percent stake in Teranet to a consortium of private sector investors.
2004 Teranet launches a Bulk Writ Filing product to address large volume filing institutions
2006 The Teranet Income Fund completes an Initial Public Offering.
2008 Teranet acquires Do Process Software Ltd. and its flagship product, The Conveyancer®, which provides the legal community with a software application that manages the workflow and information required in real estate transactions. Do Process also offers a suite of software solutions, including Will Builder™, Fast Company™ and Estate-a-Base™ applications.
2008 Teranet is acquired by Borealis, the infrastructure investment arm of the Ontario Municipal Employee Retirement System (OMERS), one of Canada’s largest pension funds.
2009 Teranet and the Province of Ontario complete a modernization of POLARIS and launches a redesigned GeoWarehouse offering.
2010 Teranet holds its inaugural Customer Experience survey for the Value Added Solutions line of business, generating a score of 84.7%.
2010 Teranet completes the automation and conversion of qualified properties in Ontario, representing more than 99.9% of the province's parcel base.
2010 The Government of Ontario extends Teranet’s exclusive licenses for the ELRS and Writs System for an additional 50 years to 2067.
Teranet Today Teranet owns and operates one of the most efficient and sophisticated electronic land registration systems in the world with more than 350 knowledge workers and facilitates the delivery of electronic land registration services on behalf of the Province of Ontario.