Mergers & Acquisitions ·
INVE sells IoT unit to Trackonomy for $25M cash plus $50M stock, pivots to physical AI SaaS
INVEINVE Technologies, Inc.
INVE Technologies completed the sale of its specialty Internet of Things business to Trackonomy Systems on September 15, 2026, receiving $50 million in Series C Preferred Stock valued at $20.07 per share and $25 million in cash. Concurrently, the company changed its name from Identiv, Inc. to INVE Technologies and appointed James Greenwell as Interim CEO effective September 21, 2026, while outgoing CEO Kirsten Newquist resigned from her executive role on that date and from the Board on September 30, 2026. The company intends to pivot its strategy toward building a physical AI SaaS business supported by an expected strategic partnership with Trackonomy. INVE Technologies operates in the technology sector, specifically focusing on identity management solutions and transitioning into physical AI software services.