Identiv sells IoT assets and adopts INVE Technologies name

Identiv ($INVE) completed the sale of its Internet of Things business and the Identiv brand to Trackonomy, receiving $50 million in Trackonomy preferred equity. The listed company has been renamed INVE Technologies and intends to pursue software businesses focused on physical-AI compliance. The consideration is preferred stock, not $50 million in cash.

The company is also negotiating a strategic partnership as part of the repositioning; those discussions should not be treated as a completed agreement. James Greenwell is set to become interim chief executive following Kirsten Newquist’s departure. The asset sale is complete, but future acquisitions and the proposed software strategy remain execution plans. The INVE ticker remains the relevant public-market exposure after the corporate renaming.

Sources:

• Identiv — completed disposal and corporate changes