DocMagic Acquires eSignSystems

Posted by Patrick Barnard on October 16, 2014 No Comments
Categories : Residential Mortgage

In its quest to become the leader in e-mortgage solutions, DocMagic Inc. has acquired competitor eSignSystems, offering e-sign, e-delivery and e-vault solutions, from WAVE Systems Corp., for a reported $1.2 million.

As part of the acquisition, DocMagic will retain the entire management team of eSignSystems, including Kelly Purcell, co-founder and executive vice president of sales and marketing, and Jonathan Kearns, senior vice president of technology solutions.

‘The acquisition of eSignSystems by DocMagic is a marriage of extraordinary talented and visionary people with incredible SaaS and on-premise products and services,’ says Dominic Iannitti, president and CEO of DocMagic, in a release.

ESignSystems' products include SmartSAFE, a solution enabling the e-delivery, e-signing and lifecycle management of the electronic record, including short and longterm retention of electronic files (e-vault). The company also offers 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 e-registry integration.

‘We are elated about the DocMagic acquisition of eSignSystems,’ Purcell says in the release. ‘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.’

‘The acquisition for DocMagic has spectacular timing for electronic mortgage adoption,’ adds Tim Anderson, director of e-services 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. This makes DocMagic the e-powerhouse.’

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