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Xerox Agrees To Acquire Advectis For $32 Million

Thursday, September 13, 2007 5:00:00 AM PDT | VentureDeal Staff
ALPHARETTA, GA -- Xerox Corporation announced a definitive agreement to acquire mortgage software company Advectis, Inc. for $32 million in an all cash transaction.

Advectis provides the mortgage industry with a web-based document collaboration system called the BlitzDocs Collaboration Suite.

Mortgage companies use the system to capture, submit, underwrite, audit, share, deliver and archive loan documents.  The all cash purchase price also includes an additional performance-based supplement to the sale price.

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