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This morning, Xerox announced that it has agreed to buy Advectis for $32 million. Advectis is a Web-based document solutions provider to the mortgage industry. XRX stated that its expertise in automating document processes is an "ideal fit" with privately-held Advectis' BlitzDocs paperless solution for mortgages. "We're looking to help clients reduce costs and transform their business by offering a better experience for both end-users and operations," said John Kelly, president of Xerox Global Services North America. Advectis' BlitzDocs Collaboration Suite helps lenders, brokers and investors manage the process needed to underwrite, audit, collaborate, deliver and archive loan documents electronically.
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