Jun. 25 at 1:37 AM
Identiv agreed to sell the operating assets of its IoT business, including its German R&D center and Thai subsidiary, to private company Trackonomy Systems in exchange for
$50 million of Trackonomy preferred stock. As part of the deal, Identiv will also contribute
$25 million in cash to support integration efforts and capital expenditures.
The transaction is expected to close in Q3 or early Q4 fiscal 2026, subject to shareholder approval and customary conditions. Following the sale, Identiv will remain listed on Nasdaq but will change its corporate name, as the Identiv brand is included in the asset sale.
After the transaction, the company plans to focus on SaaS and physical AI, pursuing acquisitions of compliance-focused SaaS businesses in highly regulated industries. Identiv and Trackonomy also entered into a strategic partnership to collaborate on software opportunities leveraging Trackonomy’s physical AI platform.
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