MELBOURNE: PEXA Group Limited, the Australian digital property exchange operator, has signed a binding agreement to sell its .id (Informed Decisions) business to an unnamed buyer, the company announced Tuesday.
The deal marks a key step in PEXA’s previously announced plan to exit its Digital Solutions businesses and focus on its core property exchange platform. The transaction is structured as a share sale agreement with an unlisted entity; further details about the buyer were not disclosed.
Completion of the sale is subject to standard conditions precedent and is expected to close by the end of the current financial year, the company said.
.id provides demographic and economic data analytics to government and private sector clients. Its divestment allows PEXA to streamline its portfolio as it continues to scale its core property settlement platform both domestically and internationally.
PEXA, which listed on the Australian Securities Exchange, currently processes approximately 90% of all property transfer settlements in Australia. The company has also been expanding into the United Kingdom, launching a digital refinancing service in 2022 and a sale and purchase capability in 2025.