Identiv Sells IoT Assets to Trackonomy, Announces $40 Million Buyback
Identiv (NASDAQ: INVE) entered a definitive agreement to sell its IoT operating assets and Thai subsidiary to Trackonomy Systems while authorizing a $40 million stock repurchase program.
Identiv (NASDAQ: ) entered a definitive agreement to sell its IoT business operating assets and its Thai subsidiary to Trackonomy Systems, a battery-powered smart label and Physical AI provider [1]. The company announced a $40 million stock repurchase program with the intention to buy back shares after the transaction closes [1]. Identiv also signed a strategic partnership framework agreement to collaborate with Trackonomy on future SaaS opportunities leveraging Trackonomy's Physical AI platform [1].
The divestiture marks Identiv's second major asset sale in recent years, following its $145 million sale of physical security, access card, and identity reader operations to Vitaprotech in April 2024 [2]. The IoT sale removes hardware manufacturing and the Thai operations from Identiv's structure, leaving the company to pursue what it describes as a post-close strategy focused on acquiring highly complementary SaaS companies to drive long-term shareholder value [1].
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