On September 15, 2026, Identiv, Inc. completed the sale of its specialty Internet of Things business to Trackonomy Systems, Inc. The transaction, previously agreed upon on June 24, 2026, involved the sale of substantially all operating assets, including all outstanding shares of Identiv (Thailand) Co., Ltd., and $25 million in cash. In exchange, the company received $50 million in shares of Series C Preferred Stock from Trackonomy, valued at $20.07 per share at the closing. This value is subject to customary adjustments made 90 days post-closing.
Following the completion of the asset sale, the company filed a Certificate of Amendment to its Restated Certificate of Incorporation to change its corporate name from Identiv, Inc. to INVE Technologies, Inc., effective September 15, 2026. The name change was approved by the board of directors on September 11, 2026, and does not require a stockholder vote. The company’s shares continue to trade on the Nasdaq stock exchange under the ticker symbol “INVE.”
Going forward, INVE Technologies intends to focus on building a physical AI SaaS business. The company announced an expected strategic partnership with Trackonomy to collaborate on software opportunities leveraging Trackonomy’s platform. The company also announced the appointment of James Greenwell as Interim Chief Executive Officer, effective September 21, 2026. Kirsten Newquist, the current CEO, will resign effective September 21, 2026, and will resign from the Board of Directors effective September 30, 2026, remaining employed until the end of September.
The sale of the IoT business and the name change were approved by stockholders at the company’s 2026 annual meeting held on September 10, 2026. The stockholders voted 17,581,408 shares in favor of the Stock and Asset Sale, with 5,539,132 votes against it. Additionally, stockholders approved the issuance of more than 19.99% of Identiv common stock upon the conversion of the Company’s Series B Preferred Stock to comply with Nasdaq Listing Rules.
