Identiv Shares Rise In Pre-market On Asset Purchase Deal With Vitaprotech

(RTTNews) - Shares of Identiv, Inc. (INVE), a provider of secure identification and physical security, were rising more than 7 percent in pre-market on Wednesday to $9.09, after the company agreed to sell its physical security, access card, and identity reader operations and assets to Vitaprotech for 145 million in cash.

The company plans to use the proceeds to fund growth of its specialty IoT solutions business.

The transaction is expected to close in the third quarter of 2024.

Identiv shares had closed at $8.45, up 0.48 percent on Tuesday. The stock has been trading in the range of $4.72 - $9.26 in the last 52 weeks.