Document Security Systems (NYSEMKT:DSS) announced it has successfully closed its previously announced merger with intellectual property management firm Lexington Technology Group, Inc. (LTG). DSS will continue trading on the NYSE MKT under its current symbol, "DSS."
The strategic alignment with LTG will increase DSS' intellectual property portfolio as well as enhance the company's ability to monetize anti-counterfeit and authentication technology and its industrial and other intellectual property assets. Each company's board of directors unanimously approved the merger, and it was thereafter approved by the stockholders of both companies. DSS will be managed by an executive team led by CEO Jeff Ronaldi.
"After months of planning and hard work, DSS and LTG are excited to be moving forward as a combined company," said Robert Bzdick, president of DSS. "Through our anti-counterfeit and authentication service offering, we have laid groundwork on which the management team believes we can generate increased revenue and licensing opportunities."
The merger represents a milestone for DSS. Through the company's new business model, it is anticipated that its technology business and intellectual property assets will both grow. As a combined company with LTG, DSS will be better positioned to take on new challenges and opportunities.
A conference call regarding the merger will take place on July 8 at 4:30 p.m. EST. The investor toll free dial-in number is 877-407-9205, and the international dial-in number is (201) 689-8054. A live webcast can also be viewed at www.investorcalendar.com/IC/CEPage.asp?ID=171177. A replay of the teleconference will be available through July 22 and can be accessed by dialing 877-660-6853 within the U.S. or (201) 612-7415 internationally.
For more information about DSS and its subsidiaries, visit www.DSSsecure.com
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