Santa Ana, Calif. – September 18, 2026 -- Identiv, Inc. has closed the sale of its legacy IoT business assets and Identiv brand name to Trackonomy Systems, Inc., completing a transaction that triggers the company's rename to INVE Technologies, Inc. Shares continue trading on Nasdaq under the ticker "INVE."
Company receives $50 million in Trackonomy preferred equity
Upon closing, INVE Technologies received $50 million in Trackonomy preferred equity, subject to post-closing adjustment. The two companies are working toward a definitive strategic partnership agreement to collaborate on software opportunities built on Trackonomy's physical AI platform, though terms remain unfinalized.
INVE pivots to physical AI SaaS via acquisitions
Going forward, INVE Technologies plans to build a physical AI SaaS business synergistic with Trackonomy's platform, targeting growth through strategic acquisitions of compliance SaaS companies. Chairman James Ousley said the transaction, the equity stake, and the pivot create "a clear, scalable growth path" for the company.
James Greenwell named Interim CEO effective September 21, 2026
James Greenwell will take over as Interim Chief Executive Officer effective September 21, 2026, tasked with leading the pivot into physical AI compliance SaaS. Greenwell has more than 30 years of executive experience in transformations, M&A roll-up strategies, and SaaS commercialization across RFID, IoT, and regulated supply chain markets, having previously held leadership roles at Spotlite360, Datria Systems, MusclePharm, and DecisionOne.
Outgoing CEO Kirsten Newquist to resign from board September 30
Kirsten Newquist will step down as CEO effective September 21, 2026, remaining an employee through the end of September 2026 before resigning from the INVE Technologies Board on September 30, 2026. Ousley credited Newquist with bringing the transaction to a successful close.
Raymond James and Pillsbury advised on the deal
Raymond James & Associates, Inc. served as financial advisor and Pillsbury Winthrop Shaw Pittman LLP served as legal counsel to Identiv on the transaction.