Xerox Completes Acquisition Of Advectis, Inc.

Oct 16, 2007

Xerox Corporation has completed its cash acquisition of Advectis, Inc. for $32 million. Advectis' technology features solutions for electronic document collaboration. Advectis was founded in 2000 and currently employs about 41 people, who now join Xerox. Former Advectis CEO Greg Smith now becomes vice president and general manager of Xerox Mortgage Services, the newly formed unit in Xerox Global Services focusing on document management and collaboration services customized for the mortgage industry. Smith will report to John Kelly, president of Xerox Global Services, North America.