Loan document preparation provider DocMagic acquired electronic software solution provider eSignSystems from WAVE Systems (WAVX).
DocMagic is based in Torrance, California and provides fully-compliant loan document preparation, compliance, eSign and eDelivery solutions.
Under the agreement, DocMagic will bring on the entire management team of eSignSystems, including co-founder and executive vice president of Sales and Marketing, Kelly Purcell, and Senior Vice President of Technology Solutions, Jonathan Kearns.
"The management team at eSignSystems has done an exceptional job bringing innovative solutions to the forefront of e-mortgage adoption, and their contribution to the eMortgage revolution cannot be overstated,” Dominic Iannitti, president and CEO of DocMagic, said.
eSignSystems products include:
- SmartSAFE: a solution enabling the eDelivery, eSigning and life-cycle management of the electronic record, including short and long term retention of electronic files (eVault)
- SmartIDENTITY: a solution for validating signers in real-time
- SmartFORMS: a solution for generating proper and personalized forms
- SmartCLOSE: a solution for simplifying the MERS® eRegistry Integration.
"The acquisition for DocMagic has spectacular timing for electronic mortgage adoption," said Tim Anderson, director of eServices for DocMagic. "Not only are DocMagic products and services the most easily integrated tools available in the market, the comprehensiveness of the combined eSignSystems and DocMagic offerings is now officially off the charts. That makes DocMagic the e-Powerhouse."