Trigold and Crystal Software Solutions have confirmed they are to merge into a combined business called Trigold Crystal Ltd, subject to formal consent from shareholders.
The firms claim the move will create the largest provider of technology-based solutions to the UK intermediary mortgage market with a combined user base of around 25,000 including the bulk of the major distributors and lenders in the industry.
The stated aim of the merger is to create the first true end-to-end technology platform combining both the intermediaries and the product providers from point-of-sale, case management, business administration, product sourcing through to reporting solutions. Leveraging the existing Momentum platform, the combined business will expand its coverage to include all advised financial products using the latest technology to build the best solutions in the market.
In addition the combined business will examine the emerging business-to-consumer market, to deliver services to organisations requiring online solutions targeted directly at consumers. Trigold Crystal will continue to support all current agreements, 3rd party integrations and all its existing products including Trigold Prospector, Crystal Momentum and Dashboard.
Martin Colyer and Jon Whitmore will become joint chief executives of the business, Patrick Shuker will become chief technical officer and David Aylmer will join the main Trigold Crystal board. Peter Birch will continue as non-executive chairman.
Martin Colyer, managing director of Trigold, says: "This is an incredibly exciting new chapter in the growth of the business, now 10 years old. We are led by our customers and it is now time expand the range of product research and business solution tools we provide for our 22,000 users, as their business's become more broadly based and use more web based technology. I am looking forward to working with the Crystal team to expand our services and build a larger, stronger organisation to take on the challenges of the next 10 years and beyond.
"Crystal Software Solutions have an excellent track record and a highly enviable client list. This merger is a superb fit and will enable us to work as a single team to deliver the next generation of software solutions to the market"Mortgage Solutions
Users of Intelligent Office
44% do not think technology will solve problem
Still under-serviced area of sandbox
Equivalent to AUS$25m