Identiv slips after co announces CEO change, deal to sell security business

INVE Technologies

03/04/2024 17:30

** Shares of security technology company Identiv  INVE.O 
down 18.4% at $6.9
    ** INVE to sell its physical security, access card and
identity reader operations and assets to Vitaprotech, a security
solutions provider
    ** Co CEO Steven Humphreys and other executives will join
Vitaprotech, at which time incoming President Kirsten Newquist
will assume the role of Identiv CEO
    ** INVE will receive a cash payment of $145 mln upon closing
of the transaction and will remain a publicly traded company
    ** Including session's losses, stock down 15.7% YTD

 (Reporting by Atharva Singh in Bengaluru)
 ((Atharva.singh@thomsonreuters.com))