en.Wedoany.com Reported - Identiv, Inc. (NASDAQ: INVE) announced that it has entered into a definitive agreement to sell its IoT business operating assets and its Thai subsidiary to Trackonomy Systems. The transaction is valued at $50 million in Trackonomy preferred stock, which includes $25 million in cash contributed by Identiv to support integration efforts and capital expenditures.
Under the agreement, Identiv will sell its IoT assets, including its research and development center in Germany and its Thai subsidiary. The parties have also signed a strategic cooperation framework agreement, planning to jointly develop new software opportunities based on Trackonomy's physical AI platform. The two companies have highly complementary products and capabilities, and Trackonomy's acquisition of Identiv's IoT assets is expected to create significant synergies, including supporting Trackonomy's growing demand for capacity, improving utilization rates, and driving cost efficiencies. Upon completion of the transaction, Identiv's strategic focus will shift to building a physical AI SaaS business that is synergistic with this platform. It intends to acquire compliance SaaS companies in highly regulated industries at attractive valuations through a combination of cash and stock, and integrate these software assets into Trackonomy's physical AI data platform, thereby driving revenue growth and long-term shareholder value.
Trackonomy serves large global enterprises in sectors such as healthcare, aviation, logistics, manufacturing, and government agencies. Its platform provides real-time visibility and intelligent analytics for physical goods through low-cost cloud-connected sensors and AI technology. The company has raised over $250 million in cumulative funding from investors including 8VC, Kleiner Perkins, Koch Disruptive Technologies, and InQTel.
The sale is expected to close in the third quarter or early fourth quarter of fiscal year 2026, subject to customary closing conditions, including approval by Identiv's shareholders. Identiv plans to continue as a Nasdaq-listed company with the stock ticker "INVE," but the company name and brand will be sold along with the IoT business assets, and the remaining listed company will be renamed after the transaction closes.
James Ousley, Chairman of the Board of Identiv, stated that after an extensive review of strategic alternatives, this transaction will benefit multiple stakeholders, and the largest shareholder has supported the deal and entered into a voting agreement. Kirsten Newquist, CEO of Identiv, noted that the transaction significantly transforms the company by simplifying and reducing execution risk in the IoT business, while preserving financial upside potential for shareholders. Dr. Erik Volkerink, Co-founder and CEO of Trackonomy, believes that acquiring Identiv's IoT business assets will further strengthen Trackonomy's position as a global provider of physical AI solutions across industries.
Upon completion of the transaction, Dr. Volkerink will join Identiv's board as an observer, and Mr. Ousley will join Trackonomy's board, a move aimed at promoting strategic alignment, continuity, oversight, and direct insight into the strategy and execution of both companies. Identiv's board plans to significantly streamline the future organizational structure, form cross-functional teams to drive the new strategy, and intends to add senior leadership with experience in SaaS and M&A integration.
Identiv's board has also increased the size of the company's stock repurchase program to $40 million, to be executed after the transaction closes. Raymond James & Associates, Inc. is serving as financial advisor to Identiv, and Pillsbury Winthrop Shaw Pittman LLP is serving as legal counsel; Cooley LLP is serving as legal counsel to Trackonomy.
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