Identiv Completes IoT Sale to Trackonomy, Renames to INVE Technologies, Appoints Interim CEO
INVE is trading near its 52-week low of $2.42 (5.8% above the low).
Summary
Identiv completed the sale of its IoT business to Trackonomy Systems for $50 million in preferred stock, renamed itself INVE Technologies, and appointed James Greenwell as interim CEO effective September 21, 2026.
Key Events · M&A and Partnerships · INVE
-
IoT Asset Sale Completed
On September 15, 2026, the company completed the sale of its IoT business to Trackonomy Systems for $50 million in Series C preferred stock at $20.07 per share, plus $25 million in cash transferred to the buyer.
-
Corporate Name Change
The company changed its name from Identiv, Inc. to INVE Technologies, Inc. effective September 15, 2026, reflecting the pivot to a physical AI SaaS business model.
-
Interim CEO Appointment
James Greenwell was appointed Interim CEO effective September 21, 2026, succeeding Kirsten Newquist who will resign as CEO on September 21 and from the Board on September 30, 2026.
-
Shareholder Vote Results
At the September 10, 2026 annual meeting, shareholders approved the asset sale with 17.58 million votes for versus 5.54 million against, and approved the issuance of more than 19.99% of common stock upon Series B Preferred conversion.
Analysis · INVE · Technology
The company has completed its transformational sale of the IoT business to Trackonomy Systems, receiving $50 million in Series C preferred stock. This closes the strategic pivot announced in June and transforms Identiv from an IoT hardware company into a physical AI SaaS platform. The name change to INVE Technologies and appointment of James Greenwell as interim CEO signal the beginning of a new corporate identity focused on compliance SaaS acquisitions. The pro forma financials show the company retains approximately $89.5 million in cash and a $50 million preferred equity investment, providing substantial runway for the acquisition strategy.
How filings like this one have moved
In the 30 days to Sep 16, 2026, 34.8% of the 1152 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, INVE was trading at $2.56 on NASDAQ in the Technology sector, with a market capitalization of approximately $62M. The 52-week trading range was $2.42 to $5.30. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.