|By PR Newswire||
|December 3, 2012 05:39 PM EST||
CHICAGO, Dec. 3, 2012 /PRNewswire/ - Lexington Technology Group Inc. (LTG) recently appointed veteran IP executive Jeff Ronaldi as chief executive officer of the company, as it prepares for a merger with Document Security Systems Inc. (NYSE MKT: DSS). Ronaldi will continue as CEO following the merger. Ronaldi, a former board advisor to Lexington, replaced Will Rosellini, who now assumes an advisor role to LTG's wholly owned subsidiary, Bascom Research, LLC.
Ronaldi has spent the last ten years specializing in monetizing patents. Ronaldi brings expertise in leading successful patent lawsuits, including winning a $50 million verdict for Shelbyzyme against Genzyme and a $20 million willful infringement verdict versus Citrix Systems Inc. in 2012. He also managed a venture capital group for SPX Corp, in which he was behind a patent infringement lawsuit against Microsoft that resulted in a $62.3 million verdict, which later settled for $60 million. Prior to LTG, Ronaldi served as CEO of Turtle Bay Technologies, Ltd, a wholly owned subsidiary of Juridica Capital. There, he used his financial expertise to determine the value of different patent technologies.
"In many ways, leading Lexington is a perfect opportunity to leverage the two phases of my career: leading technology startups and monetizing IP," Ronaldi stated about his appointment. "One of the things that attracted me to Lexington is the quality of the portfolio. I've been monetizing patents for more than 10 years and I've had a lot of success. I expect this portfolio to be every bit as successful as any of the others I've managed."
Also, DSS has promoted Robert Bzdick to acting CEO. Bzdick , DSS's current President and Chief Operating Officer, brings an extensive background in managing manufacturing operations. He will assume this role until the merger of the two companies become finalized, projected for the in the first half of 2013.
While LTG owns intellectual property assets, DSS specializes in anticounterfeit, authenticication, and mass-serialization technologies. Its technologies are designed to determine the authenticity of different products in various forums. This combination will help strengthen DSS's intellectual property portfolio and potentially enhance its revenue through the monetization of the combined company's intellectual property assets. If the merger closes, LTG will bringing over $7 to $10 million in debt free cash to DSS.
LTG acquired patent assets from Thomas L. Bascom, president of LinkSpace, LLC. LTG and Linksys are currently collaborating, through Bascom Research, to pursue research and development of radio frequency identification (RFID) software for use in the electronic health records space. Bascom Research hopes to increase the safety of patents in hospitals through utilizing its assets with LinkSpace's enterprise-level software framework and DSS's digital security.
Bascom Research also owns several patents regarding the means for companies to utilize social media. For the most part, Bascom Research is enforcing these patents by suing major social media platforms for patent infringement. Bascom Research could bring hundreds of millions of dollars to the new combined LTG/DSS entity if it can win any of its lawsuits filed against five companies, including Facebook (FB), LinkedIn (LNKD), and Jive Software (JIVE), which are pending in federal court for the Eastern District of Virgina. For its claims against Facebook, Bascom is seeking past damages dating back to 2006. Since that time, the social media giant has generated $7.38 billion, so a potential damages award could be massive. A hearing is scheduled for December 7, 2012 to determine whether the case will remain before the "rocket docket" in Virginia or be moved elsewhere.
DSS 3rd Quarter Results
DSS reported several improvements in its Q3 results including a 15% revenue jump from Q3 of 2011. Year-to-date, total revenue is $11.7 million, which is a 27% increase from 2011 and put ths company on pace for its strongest year.
Increased sales in the packaging division led the way for DSS, rising 39% during the quarter. Licensing and digital sales also increased by 13% from the prior quarter. Overall, for the first nine months of 2012, packaging sales are up by 54% from the first nine month of 2011 and licensing and digital sales have increased 27%.
DSS also made strides in its gross profit performance during Q3, which saw gross profit increase by 20% from Q3 2011. This resulted in gross profits reaching $1.52 million for the quarter. DSS has made efforts to streamline operating costs and focus its attention on sales efforts with higher margin opportunities. These decisions have paid off for DSS mainly in its printing division, where gross profit for the year to date has increased by 149%.
When measuring performance using adjusted EBITDA, the third quarter reflected a 7% improvement over adjusted EBITDA of Q3 of 2011.
These results seem to be promising for DSS, as it has an opportunity to build on its 3rd quarter momentum in the fourth quarter, which has historically been the company's strongest.
DSS's former CEO Patrick White stated, "We are very pleased with our third quarter results, where we saw strength in all of our business divisions. As we enter the final quarter of 2012, we expect to continue to build upon our revenue and gross profit growth that allowed us to reach the important financial milestone of positive adjusted EBITDA in the month of September."
DSS stock last traded at $2.70 with a market capitalization of $58.6 million. Over the last year, the company has traded between $2.26 and $5.12 per share.
SOURCE Lexington Technology Group Inc.
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) i...
Nov. 27, 2014 04:00 AM EST Reads: 1,033
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 27, 2014 04:00 AM EST Reads: 985
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
Nov. 26, 2014 11:45 PM EST Reads: 1,114
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
Nov. 26, 2014 11:30 PM EST Reads: 1,000
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
Nov. 26, 2014 09:00 PM EST Reads: 1,048
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
Nov. 26, 2014 06:00 PM EST Reads: 1,046
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Nov. 26, 2014 04:00 PM EST Reads: 1,086
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, described an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device experiences grounded in people's real needs and desires.
Nov. 26, 2014 03:45 PM EST Reads: 1,035
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
Nov. 26, 2014 02:00 PM EST Reads: 1,503
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Nov. 25, 2014 09:30 PM EST Reads: 1,257
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
Nov. 25, 2014 09:30 PM EST Reads: 1,309
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Nov. 25, 2014 07:00 PM EST Reads: 1,344
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
Nov. 25, 2014 04:30 PM EST Reads: 1,350
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Nov. 24, 2014 07:00 PM EST Reads: 1,650
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
Nov. 24, 2014 12:00 PM EST Reads: 1,537
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Nov. 24, 2014 11:00 AM EST Reads: 1,672
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
Nov. 24, 2014 09:00 AM EST Reads: 1,693
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas.
Nov. 23, 2014 07:30 PM EST Reads: 1,855
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 23, 2014 12:00 PM EST Reads: 1,804
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com), moderated by Ashar Baig, Research Director, Cloud, at Gigaom Research, Nate Gordon, Director of T...
Nov. 23, 2014 07:45 AM EST Reads: 1,841