By Kristen Broughton
DocMagic, a loan preparation company in Torrance, Calif., has agreed to acquire Doc-Tech, a mortgage documentation firm in Palatine, Ill.
The financial terms of the deal were not disclosed. The purchase expands DocMagic's electronic signature and delivery capabilities, the company said in a press release Wednesday.
"This acquisition merges the best of DocMagic's enterprise-level methodologies with Doc-Tech's wildly successful boutique-style customer service model," said Dominic Iannitti, DocMagic's president and chief executive, in the release.
Lori Johnson, Doc-Tech's president, will join DocMagic as director of client services. DocMagic also plans to maintain Doc-Tech's headquarters in Illinois.
Doc-Tech is the parent company of Document Express.