Identiv completes IoT asset sale to Trackonomy, renames itself INVE Technologies
Identiv, Inc. has closed the sale of its legacy IoT business and Identiv brand name to Trackonomy Systems, and has renamed the parent company INVE Technologies, Inc. INVE received USD 50m in Trackonomy preferred equity and plans to pivot to a physical AI SaaS model built around acquisitions of compliance software companies, with James Greenwell taking over as interim CEO from 21 September 2026.
Why this mattersIdentiv's RFID and smart-label business passes to Trackonomy, consolidating supply of track-and-trace hardware for smart packaging while the listed parent exits hardware for compliance software.
- Identiv sold its legacy IoT business assets and the Identiv brand name to Trackonomy Systems.
- Identiv, Inc. has been renamed INVE Technologies, Inc., trading on Nasdaq under ticker INVE.
- INVE Technologies received USD 50m in Trackonomy preferred equity, subject to post-closing adjustment.
- James Greenwell becomes Interim CEO effective 21 September 2026, succeeding Kirsten Newquist.
- Newquist's resignation as CEO and board member is effective 21 and 30 September 2026 respectively.
- The companies are working toward a definitive strategic partnership on software leveraging Trackonomy's physical AI platform.
Sources
prnewswire.com