DocMagic Acquires Doc-Tech Corp., Further Establishing Market Dominance
Second acquisition this quarter adds industry-leading talent proven to deliver exceptional service
TORRANCE, Calif., Dec. 9, 2014-- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions, announced today that it has acquired the assets of Doc-Tech Corporation, dba Document Express, a boutique document preparation company known for its exceptional customer service. The acquisition comes on the heels of DocMagic completing the purchase of award-winning eSignSystems in October.
As part of the acquisition, DocMagic will bring on the entire team of Doc-Tech Corp, including co-founder and Doc-Tech president Lori Johnson, and Doc-Tech EVP of sales, Michael Chaney. In addition, DocMagic gains DocTech's customer base of lenders, which it will continue to service and support using DocTech's service-oriented staff located at its corporate office in Palatine, Illinois.
"We are very excited about this particular deal," said Dominic Iannitti, president and CEO of DocMagic. "I can't say enough good things about the hands-on service-focused model that Doc-Tech provides. This acquisition merges the best of DocMagic's enterprise-level methodologies with Doc-Tech's wildly successful boutique-style customer service model. Our synergies are powerful, and when combined, are nothing short of a home run for both entities. Lori and her team have done an extraordinary job of achieving the highest level of customer satisfaction amongst their varied client base, which is a core value of DocMagic."
The acquisition adds to DocMagic's already robust suite of electronic products and services with the addition of the Doc-Tech's Elite Docs Series. Doc-Tech's customers will continue to enjoy the Elite Docs Series experience, and the company officials report that it will not require any change to their user experience.
"We couldn't have asked for a better home for our clients than DocMagic," said Lori Johnson, president of Doc-Tech. "Our customers will now have access to an enterprise-class infrastructure, significant expert resources to draw upon, advanced compliance technology, fail safe security, and innovative first-to-market solutions. There isn't a hotter, more effective doc prep company in the industry than DocMagic, and we are elated to bring our valued clients and strategic partners into the DocMagic family."
DocMagic will retain Doc-Tech's corporate headquarters based in Palatine, Illinois, establishing a strong presence that is close to the East Coast. Lori Jonson shall serve as DocMagic's director of client services and Michael Chaney will assume the role of senior sales executive.
DocMagic's strategic counsel, Silvia San Nicolas, Esq., handled the transaction. Terms of the deal were not disclosed.
DocMagic, Inc. is a leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry. Founded in 1988 and headquartered in Torrance, Calif., DocMagic, Inc. develops software, mobile apps, processes and web-based systems for the production and delivery of compliant loan document packages. DocMagic guarantees and warrants that all agency forms are up to date and in compliance with GSE requirements. The company's compliance experts and in-house legal staff constantly monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visithttp://www.docmagic.com/.
About Document Express:
Founded in 1992, Document Express, Palatine, Illinois. (dba parent company Doc-Tech Corp.), has developed the industry's most comprehensive array of document preparation solutions, DX Elite Series. By supporting and managing a lender's document needs, clients can relax knowing the documents are compliant and will be securely delivered on time, every time. Combining that expertise with state-of-the-art technology, Document Express provides an engaging user experience with solutions that are truly best in class. Document Express offers superior initial disclosures, closing documents, high cost/predatory lending analysis and flood determinations for lenders throughout the nation. Visit the company's website for more information http://www.documentexpressinc.com/.
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