Avelo Makes Strategic Acquisition of Leading Mortgage Solutions Provider, TrigoldCrystal

15 May 2012

Avelo, the UK’s leading provider of technology solutions to the Financial Services industry, has acquired TrigoldCrystal, the UK’s leading provider of technology solutions to mortgage distributors.

This acquisition is part of Avelo’s on-going strategy to extend the reach of products and services delivered to the adviser desktop, enabling efficient connectivity to the broadest range of lenders and financial services product providers. Avelo will continue to bring together leading solutions to simplify and generate more value for people selling all financial services products. These solutions include consumer websites, point of sale, research, sourcing, quotes and trading and drive reduced costs and increased productivity across the marketplace.

Both businesses have strong performance track records in their similar markets, and the acquisition will enhance the opportunities for further growth. The existing TrigoldCrystal management team will join the established strong management team at Avelo.

Avelo has a strong foothold in the enterprise scale mortgage technology market and the TrigoldCrystal solutions in mortgage sourcing, sales and originations will further strengthen this offering. The combined capabilities boosts Avelo’s ability to offer its IFA and mortgage brokers technology solutions that deliver straight through processing across the entire range of investments, life, pensions, mortgages and insurance. Avelo and TrigoldCrystal’s complementary distributor solutions have already been delivered to a number of mutual clients, prior to this acquisition.

TrigoldCrystal’s mortgage sourcing capability will complement Avelo Exchange, the market leading portal for intermediaries and distributors by making it easier for advisers to serve their customers’ mortgage, protection and other financial services needs from a single provider.

Chris Noblet, Managing Director, Avelo commented: “We are delighted to welcome TrigoldCrystal to become part of Avelo and believe that this is a big step towards our vision of Avelo delivering the complete range of products and services to the adviser and broker desktop – something that only Avelo has the capability to do. TrigoldCrystal is already a strong business and we believe that combined with our established market position, our joint customer groups will benefit from a step change in the use of e-commerce in the mortgage intermediary market.”

Jon Whitmore, CEO at TrigoldCrystal said: “We believe the strategic fit between TrigoldCrystal and Avelo is the right opportunity to take at this time for the benefit of our customers and our staff, and will allow our solutions to be deployed across a broader market place. The need for lenders, distributors and intermediaries to add value for their customers has never been greater and real support in this will now be found from one source at Avelo”.

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