Identiv Moves Forward with $145M Security Asset Sale Following US Government Clearance
Portfolio Pulse from Benzinga Newsdesk
Identiv, Inc. (NASDAQ:INVE) has received approval from the Committee on Foreign Investment in the United States (CFIUS) to sell its Physical Security Business to Vitaprotech for $145 million. The transaction is expected to close within 30 days, significantly strengthening Identiv's financial position and allowing it to focus on its IoT solutions business.
August 19, 2024 | 11:07 am
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Identiv has received CFIUS approval to sell its Physical Security Business to Vitaprotech for $145 million. The transaction is expected to close within 30 days, which will significantly strengthen Identiv's financial position and allow it to focus on its IoT solutions business.
The sale of the Physical Security Business for $145 million will provide Identiv with significant capital, improving its financial position and enabling it to focus on growth opportunities in its IoT solutions business. This is likely to have a positive short-term impact on the stock price.
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