DocMagic Gobbles Up Another E-Doc Company

Posted by Patrick Barnard on December 10, 2014 No Comments
Categories : Residential Mortgage

In its quest to become an e-mortgage powerhouse, DocMagic has acquired electronic documents firm Doc-Tech Corp., dba Document Express, for an undisclosed sum.

The deal comes on the heels of DocMagic's acquisition of another of e-docs technology provider, eSignSystems, in October.

As part of the acquisition, DocMagic will bring on the entire team of Doc-Tech Corp, including Lori Johnson, the firm's co-founder and president, and Michael Chaney, the firm's executive vice president of sales.

The deal will also significantly expand the number of lenders DocMagic serves.

In a release, DocMagic says DocTech will continue to operate out of its corporate office in Palatine, Ill.

‘We are very excited about this particular deal,’ says Dominic Iannitti, president and CEO of DocMagic, in the release. ‘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,’ Iannitti adds. ‘Lori [Johnson] 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.’

Moving forward, Johnson will serve as DocMagic's director of client services and Chaney will assume the role of senior sales executive.

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