Date: Wednesday September 12, 2007 10:45:00 am
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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.
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