This Week
  • Wright Beverage Distributing has expanded again with an acquisition.

  • Employee Relations Associates has expanded services, reach.

  • Patience helped Joseph Morelle rise in the ranks to state Assembly majority leader.

  • Owners of nearby businesses welcome UR’s College Town development.

  • Shaina Sidoti's firm makes nutritious dishes that have helped her heal.

  • Area exporters starting 2014 with a sense of momentum.

Virginia firm's investment expected to boost DSS

Rochester Business Journal
March 5, 2013

Virginia-based Lexington Technology Group Inc., a company that plans to merge with Rochester’s Document Security Systems Inc., announced Tuesday it has made a strategic investment it expects to have a positive impact on the combined company.

LTG, a privately owned intellectual property asset management group, and DSS announced plans to merge in October. The pending merger is expected to close during the second quarter.

Once the deal is approved, the combined company will operate as Document Security Systems, while LTG will become a wholly owned subsidiary.

LTG Tuesday said it has made an investment in Massachusetts-based VirtualAgility Inc., a developer known for creating programming platforms that can facilitate the creation of advanced business applications without the need for tedious programming or coding.

The deal gives LTG a minority stake in VirtualAgility, with the potential to expand its ownership. LTG officials said the investment in VirtualAgility will fall under the umbrella of DSS once the merger is complete.

“LTG’s investment in VirtualAgility reflects our commitment to supporting operating businesses that hold strong IP rights,” said Jeff Ronaldi, LTG’s CEO, in a statement. “The stake complements our acquisition of Bascom Research LLC in 2012, and it will be relevant to DSS, particularly to its AuthentiGuard product line, which will benefit from the VirtualAgility collaborative development tools.”

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.
 


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google