California's DocMagic [1], a provider of compliant loan document preparation services, has acquired the assets of Doc-Tech Corporation, according to a company announcement.
As part of the acquisition, DocMagic will bring on Doc-Tech's entire team, including co-founder and president Lori Johnson (who will serve as DocMagic's director of client services) and EVP of sales Michael Chaney (who will assume the role of senior sales executive).
DocMagic will also take on Doc-Tech's customer base of lenders, which it will continue to support through the company's corporate office in Illinois.
"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, president and CEO of DocMagic. "Our synergies are powerful, and when combined, are nothing short of a home run for both entities."
Iannitti said DocMagic's to bring on Doc-Tech and its staff was driven in part by the latter company's reputation for delivering exceptional customer service.
"I can't say enough good things about the hands-on service-focused model that Doc-Tech provides. ... Lori 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," he said.
For her part, Johnson expressed excitement for the acquisition.
"We couldn't have asked for a better home for our clients than DocMagic," she said. "There isn't a hotter, more effective doc prep company in the industry than DocMagic, and we are elated to bring our valued clients and strategic partners into the DocMagic family."
The acquisition is DocMagic's second in the fourth quarter, coming on the heels of the company's purchase of eSignSystems in October [2].