Loan document preparation provider DocMagic Inc. announced Oct. 16 that it acquired eSignSystems from WAVE Systems Corp. Terms of the acquisition were not disclosed.
The entire management team of eSignSystems will be retained after the acquisition, DocMagic said in a news release announcing the purchase.
“The acquisition of eSignSystems by DocMagic is a marriage of extraordinary talented and visionary people with incredible SaaS and on-premise products and services,” DocMagic President and CEO Dominic Iannitti said. “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.”
Products from eSignSystems include SmartSAFE, a solution enabling the eDelivery, eSigning and life-cycle management of the electronic record; SmartIDENTITY, a solution for validating signers in real time; SMARTForms, a solution for generating proper and personalized forms; and SmartCLOSE , a solution for simplifying the MERS ERegistry Integration.
Co-founder Kelly Purcell and Senior Vice President of Technology Solutions Jonathan Kearns are among the management team from eSignSystems that will stay in place.
“We are elated about the DocMagic acquisition of eSignSystems,” Purcell said. “Combining the in-depth industry experience of both DocMagic and eSignSystems gives our collective customers and partners business model choices with enterprise level expertise in both on-premise and SaaS electronic solutions. During the acquisition process, we experienced firsthand the commitment from DocMagic ensuring the success and prosperity of our customers through its continued support of innovative ‘first-to-market’ robust technologies, and excellence in customer service.”
DocMagic, a provider of loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry, was founded in 1988.