Identiv (INVE) just unveiled an announcement.
Identiv, Inc. has entered into a definitive agreement to sell its physical security business to Hawk Acquisition, Inc. for $145 million, subject to adjustments, including the sale of assets and shares of its subsidiary, Identiv Private Limited. The deal, which is not contingent on Buyer’s shareholder approval or financing, is subject to customary conditions such as Identiv shareholder approval and regulatory clearances. Identiv has also committed to operating normally until the deal’s closing and is bound by certain exclusivity obligations regarding alternative acquisition proposals. In related news, Kristen F. Newquist is appointed as President, IoT Solutions, and will become CEO following the anticipated departure of current CEO Steven Humphreys post-transaction.
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