Avelo is set to rebrand TrigoldCrystal as Avelo Trigold following its acquisition of the mortgage sourcing system.
Avelo today announced the acquisition which was tipped by Money Marketing last year.
The deal will see Trigold’s management team join with Avelo’s senior management.
Avelo strategy and product development director Paul Yates says: “People know the Trigold brand and are used to it and it makes sense to offer that continuity although we have dropped the Crystal from the name.”
Yates added the Trigold name could also possibly be dropped over the next two or three years but that has not yet been decided.
The combined businesses of 1st Exchange, N4 and Screen Business rebranded as Avelo last April.
Mortgage Brain pulled out of a proposed merger with rival TrigoldCrystal last March following an Office of Fair Trading decision to refer the deal to the Competition Commission.
Avelo managing director Chris Noblet (pictured) says; “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.”
TrigoldCrystal chief executive Jon Whitmore says: “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”.