Document Security Systems' AuthentiGuard Solution Selected For Global Anti-Counterfeiting Deployment
February 07 2017 - 9:00AM
Marketwired
Document Security Systems' AuthentiGuard Solution Selected For
Global Anti-Counterfeiting Deployment
ROCHESTER, NY-(Marketwired - Feb 7, 2017) - Document Security
Systems, Inc. (NYSE MKT: DSS), (DSS), a leader in
anti-counterfeiting and authentication solutions, today announced
its AuthentiGuard anti-counterfeit solution has been selected for
worldwide deployment by a U.S. based Fortune Global 500 company.
The roll out will begin in North America in early 2017 and expand
over the multi-year term of the contract to include additional
regions.
AuthentiGuard combines a secure mark printed on product
packaging with a smartphone application so investigators, supply
chain personnel, or consumers can validate the authenticity of
products. The results of scans performed in the field are saved in
a database which the brand then uses to analyze and identify how
counterfeit product is compromising the supply chain. With fraud
threatening the safety of consumers worldwide, AuthentiGuard allows
brands to protect consumers with product authentication while
simultaneously building a more comprehensive view of threats to the
supply chain so they can deploy resources to remediate
problems.
"Every day we see more and more counterfeit goods on the market
which pose a significant threat to consumers," said Jeff Ronaldi,
CEO of DSS. "Brand owners are getting serious about fighting the
threat and AuthentiGuard is one of the most innovative solutions on
the market. Winning a global deployment for one of the largest
Global 500 companies is the latest validation for the AuthentiGuard
technology as well as an indication that the market is adopting
aggressive anti-counterfeiting measures."
The addition of this latest client extends the Company's success
in its brand protection portfolio. The Company recently announced
an important reseller relationship with SunChemical focused on
AuthentiGuard and also announced the closing of a non-dilutive
round of financing for an intellectual property transaction.
"We are seeing strong interest in our anti-counterfeiting
solutions," according to Mike Roy, President of DSS Digital, whose
group has responsibility for AuthentiGuard. "Brands are focused on
understanding and remediating their counterfeit problem and
AuthentiGuard is one of the only solutions on the market which
enables them to detect and deter counterfeits in real-time
utilizing smartphones. We expect to see more customer wins in 2017
as brands aggressively fight the threat."
Terms of the agreement will not be disclosed. Revenues are
expected to commence in the first quarter of 2017.
About Document Security Systems, Inc.
Document Security Systems, Inc.'s (NYSE MKT: DSS) products and
solutions are used by governments, corporations and financial
institutions to defeat fraud and to protect brands and digital
information from the expanding world-wide counterfeiting problem.
DSS technologies help ensure the authenticity of both digital and
physical financial instruments, identification documents, sensitive
publications, brand packaging and websites.
DSS continually invests in research and development to meet the
ever-changing security needs of its clients and offers licensing of
its patented technologies. For more information on the
AuthentiGuard Suite, please visit www.authentiguard.com. For more
information on DSS and its subsidiaries, please visit
www.dsssecure.com.
Forward-Looking Statements
Forward-looking statements that may be contained in this press
release, including, without limitation, statements related to the
Company's plans, strategies, objectives, expectations, potential
value, intentions and adequacy of resources, are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act and contain words such as "believes," "anticipates,"
"expects," "plans," "intends" and similar words and phrases. These
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from the
results projected in any forward-looking statement. In addition to
the factors specifically noted in the forward-looking statements,
other important factors, risks and uncertainties that could result
in those differences include, but are not limited to, the outcomes
of any of the Company's litigation, its ability to raise capital,
and those risks and uncertainties disclosed in the "Risk Factors"
section of the Company's Annual Report on Form 10-K for the year
ended December 31, 2015, filed with the Securities and Exchange
Commission. Forward-looking statements that may be contained in
this press release are being made as of the date of its release,
and the Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
For More Information Investor Relations Document Security
Systems, Inc. (585) 325-3610 Email: ir@documentsecurity.com
DSS (AMEX:DSS)
Historical Stock Chart
From Mar 2024 to Apr 2024
DSS (AMEX:DSS)
Historical Stock Chart
From Apr 2023 to Apr 2024