INVE Technologies Completes IoT Asset Sale and Renames Itself
News related to:INVE Technologies, Inc · 2 min read
Identiv, Inc., which has now renamed itself as INVE Technologies, Inc., has completed the sale of its Internet of Things (IoT) assets to Trackonomy Systems, Inc. The transaction, which was announced in a press release, marks a significant shift in the company’s strategic direction.
Under the terms of the agreement, the legacy Identiv brand and its IoT business assets were transferred to Trackonomy. Subsequently, the company changed its corporate name to INVE Technologies, Inc., and its shares continue to trade on the Nasdaq stock exchange under the ticker symbol "INVE."
Going forward, INVE Technologies plans to focus on building a physical AI software as a service (SaaS) business, leveraging its strategic partnership with Trackonomy. The company received $50 million in Trackonomy preferred equity, subject to post-closing adjustments, as part of the transaction.
James Greenwell has been appointed as the interim CEO of INVE Technologies, effective September 21, 2026. Greenwell brings over 30 years of experience in executive leadership, particularly in RFID, IoT, and regulated supply chain markets. He previously held executive roles at Spotlite360, Datria Systems, MusclePharm, and DecisionOne.
In a statement, James Ousley, the Chairman of the Board, expressed optimism about the transaction, stating, "Bringing this transformational transaction to a successful close marks an important strategic milestone for our company. By transitioning to INVE Technologies, securing Trackonomy preferred equity, and pivoting our business strategy around physical AI, we believe we are creating a clear, scalable growth path going forward."
Kirsten Newquist, the former CEO, will resign on September 21, 2026. She will remain an employee through the end of September 2026 and will resign from the INVE Technologies Board effective September 30, 2026. Ousley added, "Today marks the beginning of an exciting new chapter in our company's history. Moving forward as INVE Technologies, our goal is to build a leading physical AI solutions business through targeted SaaS acquisitions, enhanced by the addition of physical AI data through our expected strategic partnership with Trackonomy."
The company is committed to executing its physical AI strategy and evaluating acquisition opportunities. The transaction is expected to provide a solid foundation for INVE Technologies to grow and expand its presence in the market.