FX.co ★ Identiv To Sell Security Assets To Vitaprotech For $145 Mln In Cash

On Wednesday, Identiv, Inc. (INVE) announced that it has concluded a deal with Vitaprotech, a provider of security solutions. The agreement involves the sale of its physical security, access card, and identity reader operations and assets for $145 million in cash.

The funds generated from the sale are expected to bolster Identiv's financial position, providing capital to bolster the future growth of its specialty IoT solutions business, both naturally and through acquisitions. The completion of the transaction is anticipated to occur in the third quarter of 2024.