Identiv, Inc. entered into a Stock and Asset Purchase Agreement with Trackonomy Systems, Inc. to sell its specialty Internet of Things business for $50 million in Buyer's Series C Preferred Stock valued at $20.07 per share, plus $25 million in cash. The transaction is subject to stockholder approval and includes a voting and support agreement from Bleichroeder LP, which controls approximately 12% of common stock and 100% of Series B preferred stock. Additionally, the Board authorized an increase to its existing stock repurchase program, raising the total authorized amount to $40 million. Identiv, Inc. provides identity management and security solutions through its IoT and SaaS-focused business segments.
