Benzinga | May 24, 2021 09:34AM EDT

DSS Says Acquires 24.9% Of Broker-Dealer Sentinel Brokers Company

Document Security Systems, Inc. ("DSS" or the "Company") (NYSE:DSS), a multinational company operating business segments in blockchain security, direct marketing, healthcare, consumer packaging, real estate, renewable energy, and securitized digital assets, today announced the further expansion of its DSS Securities, Inc. business through an acquisition of 24.9% of Sentinel Brokers Company, Inc. ("Sentinel"), a FINRA-registered broker-dealer. Terms of the agreement include the option to acquire an additional 50.1% of Sentinel.



"We are thrilled to further expand the footprint of DSS Securities," stated Frank D. Heuszel, CEO of DSS. "Owning a broker-dealer will help to accelerate our plans to build out an ecosystem around this high-growth, high-return potential segment of our operations."

Founded in 1996 by Joseph Lawless, Sentinel primarily operates as a financial intermediary, facilitating institutional trading of municipal and corporate bonds as well as preferred stock.

"Markets are continually evolving," commented Lawless. "As Sentinel celebrates our 25th anniversary this year, it's exciting to engage a synergistic strategic partner the caliber of DSS that has tremendous vision and resources giving it the ability to capitalize on a wealth of opportunities. I am excited to work with the DSS team as we move forward."

"This is great opportunity to accelerate the trajectory of our digital securities business," commented Jason Grady, Chief Operating Officer of DSS. "We plan to continue to invest qualified ventures as opportunities warrant, effectively allocating the capital we have available to drive growth and maximize returns."

DSS Securities completed its acquisition of 24.9% of Sentinel through its wholly owned subsidiary, Sentinel Brokers, LLC.