The transaction, valued at $50 million in Trackonomy preferred equity, signals a definitive pivot for the Santa Ana-based firm. While the legacy hardware assets move to Trackonomy, INVE Technologies plans to leverage data from Trackonomy’s physical AI platform to support its new compliance-focused software strategy. Chairman James Ousley stated that the move aims to establish a scalable growth path and enhance long-term value for stockholders.
Identiv Rebrands as INVE Technologies Following IoT Asset Sale
Identiv, Inc. has finalized the sale of its legacy IoT business to Trackonomy Systems and rebranded as INVE Technologies, Inc. The company, which retains its Nasdaq ticker symbol, is shifting its core focus toward building a physical AI SaaS business through targeted acquisitions and a new strategic partnership.
Leadership changes accompany the transition. James Greenwell, an executive with three decades of experience in RFID and supply chain markets, will assume the role of Interim CEO on September 21, 2026. He succeeds Kirsten Newquist, who is stepping down from the chief executive position and the board of directors following the close of the deal. Greenwell is tasked with overseeing the company’s integration of SaaS commercialization strategies and evaluating new acquisition opportunities in the compliance sector.
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