DocMagic Inc., a loan document solutions provider, has acquired eSignSystems for $1.2 million in an all-cash deal.

DocMagic of Torrance will take on eSignSystems’ entire management team as part of the acquisition.

ESignSystems helps businesses manage electronically signed legal documents, contracts and digital transactions. Wave Systems Corp., a data security firm, bought eSignSystems of Lee, Mass., in 2001.

DocMagic creates software and mobile apps for producing and delivering compliant loan document packages.

Dominic Iannitti, DocMagic’s president and chief executive, said the two companies have complementary products. “Simply put, we are just better together.”

Staff reporter Melissah Yang can be reached at MYang@labusinessjournal.com. Follow her on Twitter @MelissahYang for the latest in L.A. tech news.

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