Document Security Systems, Inc. and Samsung S1 Corporation Sign 4-Year Distribution Agreement
November 09 2009 - 10:49AM
PR Newswire (US)
Tech Leader in Information Security Technologies Joins Forces with
Leading Global Security Provider ROCHESTER, N.Y. and SEOUL, South
Korea, Nov. 9 /PRNewswire-FirstCall/ -- Document Security Systems,
Inc. (NYSE Amex: DMC; "DSS"), a world leader in the development and
manufacturing of optical deterrent and authentication technologies
that secure electronic data and help prevent counterfeiting and
brand fraud from the use of desktop scanners and copiers in the
market, is pleased to announce today that it has entered into a
Mutual Business Strategic Collaboration Agreement ("Agreement"),
with the Samsung S1 Corporation, a member of the Samsung family of
companies. Under the Agreement, DSS grants to Samsung S1 an
exclusive, non-transferable right to market, sell and distribute
all of DSS's AuthentiGuard(TM) Products in South Korea; and an
exclusive, non-transferable right to market, sell and distribute
DSS AuthentiGuard(TM) Products to Samsung and its affiliates
anywhere in the world. As Korea's largest total security provider,
the Samsung S1 Corporation offers security solutions in everything
from crime to fire prevention to information and communication
services. As a leader in the digital era, the Samsung S1
Corporation is focused on smart card, communication security and
the mobile security arenas as well, with a special focus on
providing a single smart card for a variety of applications,
including security card, credit card, transportation card, e-money,
medical card and PC security. Patrick White, Chief Executive
Officer and President of Document Security Systems, Inc., stated:
"We are very excited and proud of this relationship with Samsung S1
as it confirms the quality and demand for our authentication
technologies and products - and builds on our goal of becoming the
world's leader in the development and manufacturing of optical
deterrent and authentication technologies. This opportunity is
significant, given that Samsung S1 has needs for our plastic card
and document content software technologies, as well as for our
custom paper and secure printing products. As far as what this
means in dollars and cents, that will depend on how quickly we can
establish the necessary market channel's infrastructure as well as
Samsung S1's ability to get the products to market." About Document
Security Systems, Inc. Document Security Systems is a world leader
in the development and manufacturing of optical deterrent
technologies that help prevent counterfeiting and brand fraud from
the use of the most advanced scanners, copiers and imaging systems
in the market. The company's patented and patent-pending
technologies protect valuable documents and printed products from
counterfeiters and identity thieves. Document Security Systems'
customers, which include international governments, major
corporations and world financial institutions, use its covert and
overt technologies to protect a number of applications including,
but not limited to, currency, vital records, brand protection, ID
Cards, internet commerce, passports and gift certificates. Document
Security Systems' strategy is to become the world's leading
producer of cutting-edge security technologies for paper, plastic
and electronically generated printed assets. More information about
Document Security Systems, Inc. and its products and services can
be found at http://www.documentsecurity.com/,
http://www.plasticprintingprofessionals.com/,
http://www.legalstore.com/, http://www.protectedpaper.com/, and
http://www.dpirochester.com/. Safe Harbor Statement This release
contains forward-looking statements regarding expectations for
future financial performance, which involve uncertainty and risk.
It is possible the Company's future financial performance may
differ from expectations due to a variety of factors including, but
not limited to, changes in economic and business conditions in the
world, increased competitive activity, achieving sales levels to
fulfill revenue expectations, consolidation among its competitors
and customers, technology advancements, unexpected costs and
charges, adequate funding for plans, changes in interest and
foreign exchange rates, regulatory and other approvals and failure
to implement all plans, for whatever reason. It is not possible to
foresee or identify all such factors. Any forward-looking
statements in this report are based on current conditions; expected
future developments and other factors it believes are appropriate
in the circumstances. Prospective investors are cautioned that such
statements are not a guarantee of future performance and actual
results or developments may differ materially from those projected.
The Company makes no commitment to update any forward-looking
statement included herein, or disclose any facts, events or
circumstances that may affect the accuracy of any forward-looking
statement. For information contact: Contact: Jody Jansen Company:
Document Security Systems, Inc. Title: Shareholder Relations Voice:
585-232-5440 Email: DATASOURCE: Document Security Systems, Inc.
CONTACT: Jody Jansen, Document Security Systems, Inc., Shareholder
Relations, +1-585-232-5440, Web Site:
http://www.documentsecurity.com/
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