Identiv Completes Sale of its Physical Security Business
Identiv, Inc. (INVE)
Last identiv, inc. earnings: 3/12 04:05 pm
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Source: Business Wire
SANTA ANA, Calif.--(BUSINESS WIRE)--Identiv, Inc. (NASDAQ: INVE), a global leader in RFID-enabled solutions for the Internet of Things (IoT), today announced the successful conclusion of its previously announced asset sale transaction with Vitaprotech, a security solutions provider. Upon closing the transaction, Identiv received a cash payment of approximately $144.2 million, subject to further customary adjustments, and Kirsten Newquist, formerly Identiv’s President, IoT Solutions, succeeded Steven Humphreys as the Company’s CEO.“We are pleased to have brought this strategic transaction to a successful close,” said James Ousley, Chairman of the Board. “The proceeds significantly enhance our financial position and provide us with capital to judiciously invest in the future growth of our IoT solutions business.”Ousley added, “The Board would also like to extend its gratitude to Steve Humphreys for his many years of exceptional leadership at Identiv and his invaluable contributions
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