Information Services Corporation (TSX:ISV) told investors that its wholly-owned subsidiary Reamined Systems has renewed its agreement with the Ontario Ministry of Finance to operate the province’s Online Property Tax Analysis (OPTA) system until 2028.
The renewal includes two additional options for one-year renewals, the provider of registry services and information management services for public data and records said.
Reamined, acquired by ISC in 2022, built the OPTA system for the Government of Ontario in 1998 as a centralized budgetary planning tool and property tax accounting system.
“The professionals at Reamined are property tax experts that contribute a wealth of knowledge and have a highly regarded track record in delivering property tax systems that work,” ISC CEO Shawn Peters said in a statement.
“Reamined is a natural extension of ISC’s Registry Operations segment and expands ISC’s role as a trusted service provider to other jurisdictions. Together with Reamined, we are proud to be working alongside the Ministry on behalf of the people of Ontario, ensuring their property tax system continues to be operated and managed successfully for years to come.”
The previous agreement between Reamined and the Ministry was due to expire in 2025.
ISC said the early renewal ensured “consistency and continued efficiency of these services” by the province’s current provider.