Evaluate to be pulled from administration

Evaluate Technologies is to be plucked out of administration and the assets transferred to another company, Mortgage Strategy understands.

The sourcing system provider is to enter administration this month but staff wages and client contracts are expected to be unaffected by the transition.

Valentine & Co is acting as administrator for the software firm, which is thought to be planning to transfer its assets and staff to another technology firm owned by the company’s founder Peter Carron.

But Mortgage Strategy understands that some redundancies have already been made.

One source close to the deal tells Mortgage Strategy: “The firm has been through a difficult time but it will be business as usual once the assets are transferred.

“Evaluate will enter administration in an orderly fashion, and all existing contracts and staff will be paid.”

See today’s issue of Mortgage Strategy for more details….