Technology provider Avelo has acquired mortgage technology firm TrigoldCrystal.

Avelo, which specialises in providing technology for the financial services industry, said it was looking to strengthen its mortgage offering for advisers and mortgage brokers.

TrigoldCrystal is a provider of mortgage sourcing, point of sale and broker tool systems for the intermediary market.

Avelo did not disclose the cost of the acquisition.

Existing management at TrigoldCrystal will now join the management of Avelo.

Avelo said the TrigoldCrystal technology would complement its Avelo Exchange, making it simpler for advisers to get all their financial needs from one provider. Avelo Exchange currently has 32,000 registered users within advisory firms.

Chris Noblet, managing director at Avelo, said: “We are delighted to welcome TrigoldCrystal to become part of Avelo and believe this is a big step towards our vision of Avelo delivering the complete range of products and services to the adviser and broker desktop.”

Jon Whitmore, chief executive 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 marketplace.

“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.”