ROCHESTER, N.Y., July 1, 2013 /PRNewswire/ -- Document Security Systems, Inc. (NYSE MKT: DSS) announced today the successful closing of its previously announced merger with Lexington Technology Group, Inc. (LTG), an intellectual property management firm that seeks to maximize the value of intellectual property and technology assets. DSS will continue to trade on the NYSE MKT under the symbol "DSS".
This strategic combination increases DSS's intellectual property portfolio and enhances the Company's ability to monetize its anti-counterfeit and authentication technology, as well as its industrial and other intellectual property assets. The boards of directors of both DSS and LTG unanimously approved the merger, which was subsequently approved by LTG's and DSS's stockholders. The Company will be managed by an executive team led by Chief Executive Officer, Jeff Ronaldi.
"After months of planning and hard work, DSS and LTG are excited to be moving forward as a combined company" stated DSS's President, Robert Bzdick. "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."
"Today is a milestone for DSS. Through our new business model, we see exciting opportunities to potentially grow our technology business and intellectual property assets" stated DSS's Chief Executive Officer, Jeff Ronaldi. "As a combined company, we believe that we are better positioned to take on new challenges and opportunities ahead."DSS will host a conference call to discuss the merger and introduce investors to the combined company on Monday, July 8 at 4:30 PM Eastern Time. CONFERENCE CALL DETAILS: Time: 4:30 p.m. ETDate: Monday, July 8, 2013Investor Dial In (Toll Free): 877-407-9205Investor Dial In (International): 201-689-8054Live Webcast URL: http://www.investorcalendar.com/IC/CEPage.asp?ID=171177 A replay of the teleconference will be available until 07/22/13, which can be accessed by dialing 877-660-6853 within the United States or (201)612-7415 if calling internationally. Please enter account #286 and conference ID #417344 to access the replay. About Document Security Systems, Inc. Document Security Systems, Inc.'s (NYSE MKT: DSS) products and solutions are used to defeat counterfeiting and fraud and protect brands and digital information from the expanding world-wide counterfeiting problem. In addition, its recent merger with Lexington Technology Group, Inc. has increased its intellectual property portfolio and enhanced its ability to monetize its intellectual property portfolio. DSS continually invests in research and development to meet the ever changing security needs of its clients and implements these patented solutions through strategic licensing arrangements and through its operating groups that focus on secure printing, packaging, plastics and RFID, intellectual property monetization and digital information