
Teranet Strikes Back: Can They Win Over Dissatisfied Customers After D&D's Price Hikes?
2025-06-11
Author: Charlotte
Dye & Durham's Price Hikes Spark Customer Outrage
Dye & Durham Ltd. (DND-T) is feeling the heat after a series of aggressive price hikes left their clients furious and opened doors for competitors. As the Toronto-based real estate software firm grapples with backlash from its pricing strategy, Teranet Inc., a major player in land registry services, is seizing the opportunity to reclaim market share.
Teranet's Strategic Move
In a bold move, Teranet acquired ReadyWhen Tech Inc., a startup known for its GoVeyance software designed for real estate transactions. This acquisition follows D&D's jaw-dropping price increase of up to 563% in British Columbia as of late 2021. Post-hike, ReadyWhen quickly attracted 200 law firm clients, many of whom were former D&D customers.
Recently, Teranet announced plans to expand GoVeyance into Ontario, re-entering a market it left after selling its own software business, DoProcess LP, to D&D for a staggering $530 million back in December 2020. The urgency and desire to regain a foothold in this lucrative domain are palpable.
The Aftermath of D&D's Pricing Strategy
Dye & Durham's previous acquisition spree and steep pricing have resulted in significant customer churn. After purchasing DoProcess, D&D swiftly raised prices by over 400%, leaving clients frustrated. Many felt trapped by the company's inconsistent promises, especially regarding pricing freezes.
Engine Capital, an activist hedge fund, has been pushing for change, calling out D&D's practices and demanding better service and pricing strategies. New interim CEO Sid Singh acknowledged the company's recent missteps, stating that they aim to restore client trust through improved terms and more transparent pricing.
New Competitors Rise in the Wake of D&D's Actions
The market is heating up with emerging competitors like LawLabs Inc. and the newly revitalized GoVeyance. LawLabs, now boasting over 500 clients after its sale to ATI Global Ltd., has also seen a surge in demand after D&D's price hikes.
LawLabs CEO Harrison Kelly commented that D&D's aggressive pricing strategy inadvertently opened the gate for newcomers in the legal tech space, which could shake the competitive landscape.
Challenges Ahead for D&D
The real estate technology market is becoming increasingly crowded, and D&D's conveyancing software business, which constitutes over 30% of its operating earnings, is under scrutiny from investors. Analysts warn that enduring competition from a company like Teranet, with solid backing, poses a serious threat.
A Quest for Redemption
As Teranet positions itself as a strong alternative, former D&D clients are lingering at the crossroads—will they stay loyal to a once-trusted provider, or will they embrace the newcomers offering competitive prices? With Softer management and a renewed focus on customer satisfaction, D&D faces a critical turning point.
Meanwhile, Teranet's commitment to turning GoVeyance into a major player is a testament to their strategic adaptability in a rapidly evolving market. It's clear: The battle for customer loyalty in Canadian real estate tech is just getting started.