Identiv to Sell IoT Operating Assets to Trackonomy

Identiv has signed a definitive agreement to sell its IoT business operating assets and Thai subsidiary to Trackonomy Systems. The transaction includes Identiv’s German R&D centre and the Identiv name and brand for the IoT business, while Identiv plans to reposition its remaining public company around SaaS acquisitions.

Sale Includes IoT Business Operations

Identiv announced the agreement on June 24, 2026. The company will sell its IoT business operating assets, including its German R&D centre and Thai subsidiary, to Trackonomy Systems.

The transaction also includes the Identiv name and brand associated with the IoT business. After closing, Identiv intends to remain a Nasdaq-listed company under the ticker symbol INVE, but the remaining public company will operate under a new name.

The agreement remains subject to customary closing conditions, including approval by Identiv shareholders. Closing is expected in the third quarter or early fourth quarter of fiscal year 2026.

Kirsten Newquist, CEO of Identiv, said Trackonomy recognised the company’s “team’s achievements and specialized RFID and BLE capabilities.” She described the transaction as one that streamlines Identiv’s IoT business while preserving financial upside for shareholders through Identiv’s future strategy and its ownership interest in Trackonomy.

$25 Million Cash Contribution and $50 Million Equity Interest

Under the agreement, Identiv will contribute $25 million in cash and receive $50 million in Trackonomy preferred equity. Identiv states that the cash contribution will support integration activities and additional capital expenditure, including the expansion of high-volume opportunities.

This structure gives the remaining public company an equity interest in Trackonomy following the transaction. Identiv has also announced a $40 million stock repurchase programme, which it intends to begin after the transaction closes.

James Ousley, Chairman of Identiv’s Board of Directors, said the company’s Board unanimously supports both the transaction and Identiv’s future strategy. He added that shareholders could benefit from potential upside connected with the planned strategic partnership and future value-creation opportunities.

Trackonomy Adds Identiv’s IoT Operations

Trackonomy develops battery-powered smart labels and connected sensor systems for physical goods and assets. The company serves enterprises in healthcare, airlines, logistics, manufacturing and government.

According to Identiv, the acquisition combines Trackonomy’s large-scale deployment capabilities with Identiv’s RFID and Bluetooth Low Energy expertise. Trackonomy will also acquire Identiv’s Thailand manufacturing operation, which is intended to support its production-capacity requirements.

Dr. Erik Volkerink, Co-Founder and CEO of Trackonomy, said the acquisition would enable Trackonomy to continue its growth and strengthen its position as a provider of vertically integrated physical AI-based solutions across multiple industries.

The companies have not publicly provided a detailed list of individual product lines, intellectual-property assets, customer contracts or employees included in the transaction.

Strategic Partnership Framework for SaaS

Identiv and Trackonomy have also entered into a strategic partnership framework agreement. The companies intend to work toward a definitive agreement covering future software opportunities that use Trackonomy’s physical AI platform.

Identiv states that, after the transaction closes, it will focus on acquiring compliance SaaS companies in highly regulated industries. The company intends to use a combination of cash and stock for these acquisitions.

Subject to a future definitive partnership agreement, Identiv plans to connect acquired software businesses with Trackonomy’s physical AI data platform. No acquisition target, regulated industry focus or final partnership structure has yet been disclosed.

Identiv states that it is actively evaluating acquisition opportunities and aims to complete an acquisition shortly after the Trackonomy transaction closes. This intention does not identify a specific target or confirm a completed acquisition plan.

What Physical AI Means in This Transaction

Trackonomy uses the term physical AI for a platform that combines connected sensors, item-level data and cloud software to provide real-time information about physical goods and assets.

In the context of this transaction, this includes linking RFID and BLE-based identification data with operational information from supply chains, healthcare assets, manufacturing processes and other connected environments. Trackonomy describes this approach as providing visibility and intelligence for physical operations.

New Strategic Direction for Identiv

The transaction separates Identiv’s IoT operating business from its future public-company strategy. Following the closing, the remaining company plans to focus on compliance software acquisitions and on the planned commercial and technical collaboration with Trackonomy.

The companies have also announced intended reciprocal board-observer arrangements after closing. Dr. Erik Volkerink is expected to become an observer of Identiv’s Board, while James Ousley is expected to become an observer of the Trackonomy Board. According to Identiv, these arrangements are intended to support strategic alignment, continuity and oversight.

For customers, suppliers and technology partners, the key confirmed development is the planned transfer of Identiv’s IoT operating assets, German R&D centre, Thai subsidiary and IoT brand to Trackonomy. Further information on products, teams and transition arrangements has not yet been announced.

Stay informed on Think WIoT as further details emerge on the transaction, operational transition and planned SaaS partnership.