*NEWS*XEROX TO BUY SOFTWARE CO. FOR $32M

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*NEWS*XEROX TO BUY SOFTWARE CO. FOR $32M

 user 2007-09-12 at 10:45:00 am Views: 48
  • #18737

    Xerox to Buy Advectis for $32 Million
    ROCHESTER,
    N.Y. — Office equipment maker Xerox Corp. said Wednesday it plans to
    buy Advectis Inc., a provider of electronic document collaboration
    products to the mortgage industry, for $32 million cash.Atlanta-based
    Advectis is privately held. Its Web-based BlitzDocs Collaboration Suite
    helps lenders, brokers and investors manage loan documents
    electronically in what is usually a paper-heavy process, Xerox said.All
    of Advectis’s 41 employees are expected to join Xerox. The deal is
    expected to close in the next 30 days.