David Moyes has admitted he stepped in for Sander Westerveld after a move for Arsenal keeper Mart Poom failed to bear fruit.
Everton have a major keeper crisis at Goodison Park, as Nigel Martyn and Richard Wright are injured, while Iain Turner is suspended after being sent off against Blackburn.
The Premier League gave The Toffees permission to sign a keeper in an emergency loan and Moyes set his sights on Estonian ace Poom.
A deal seemed close to completion earlier in the week, but the move hit the buffers on Wednesday - prompting Moyes to switch his attentions to Westerveld.
Portsmouth consented to their former Dutch international making a switch to Merseyside and Moyes is hopeful the keeper will aid The Toffees in their bid to climb the table.
"It has been unbelievably unfortunate the way things have gone," Moyes told Sky Sports News of his recent keeper problems. "Nigel had to have a clear out of his ankle, Richard Wright then had the unfortunate injury before the Chelsea game and then incredibly Iain Turner goes and gets sent off at the start of the game against Blackburn.
"John Ruddy came on and did brilliantly well for us, but no matter whether we were going to play John or not we needed to get a keeper in just to sit on the bench.
"We thought if that was the case we might as well get one in who could go above John just now, someone with experience.
"We tried to get one or two keepers, I phoned one or two managers when the Poom deal went dead on us on Wednesday; we had no choice but to try and get it done."
Moyes is delighted to have secured the services of such an experienced keeper.
"There are not many goalkeepers sitting around who teams are just going to give you, so you have to try and get what you can and fortunately Sander has some experience and can hopefully help us in the months ahead."
Moyes is now free to look at other areas of his squad and James McFadden is reportedly close to agreeing a new deal with Everton.
The Scottish midfielder has worked his way back into David Moyes' thinking this term, having fallen down the pecking order last season, and he is reportedly close to signing a new deal which will tie him to the club until the summer of 2009.