Identiv sells biometrics assets for $145M in pivot to IoT

Identiv is selling its physical security, access card and biometric identity reader operations to European security technology provider Vitaprotech in a $145 million deal.

The asset sale represents a pivot by Identiv to focus on its internet of things (IoT) business. Kirsten Newquist has been appointed as President of IoT Solutions to lead that transition.

“Our globally recognized security business naturally aligns with Vitaprotech’s strategy and vision for the market, creating a world leader in enterprise security,” comments Identiv CEO …

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