Document Security Systems (DSS), which has made its named in customized secure printing for everything from currency to records and ID cards, picked up Plastic Printing Professionals for $1.25 million cash plus almost 19,000 shares of restricted Document Security Systems stock.
P3, which saw sales near $2.6 million last year, is a relatively small shop in the industry, with 25 employees and a technology portfolio that includes secure printing of ID cards, driver's licenses, and even gift cards. Document Security Systems announced on Wednesday that P3 manufacturing techniques will incorporate the patented technologies that DSS has developed.
The acquisition leaves P3's management team in place. The company's owners Michael Caulley and Jaeson Caulley will remain as president and vice president of plastic technologies, respectively.
Document Security Systems is online at www.documentsecurity.com.