DSS - Document Security Systems offloads digital division to Proof Authentication

Document Security Systems (DSS) trades 10.7% down premarket after announcing that Proof Authentication signed a purchase agreement wherein the latter acquired 100% of the outstanding shares of DSS Digital, leader in innovative anti-counterfeit, authentication, and brand protection solutions.DSS will retain and sell to certain key customers through a non-exclusive license granted by Proof to DSS.The deal terms include upfront cash and an earn-out provision that provides for potential payments to DSS based on certain revenue targets achievement."While our digital group has been a great business for DSS over the years, we have moved in a different direction, investing in new growth opportunities within healthcare, renewable energy, and other emerging technologies that we believe present tremendous potential upside for our shareholders," CEO Frank D. Heuszel commented.

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Document Security Systems offloads digital division to Proof Authentication