Identiv, Inc. (NASDAQ: INVE), the independent members of the Board of Directors have initiated a process to explore strategic alternatives to enhance stockholder value. They may retain an independent financial advisor or other external resources to assist in the exploration of strategic alternatives. “As we’ve grown, the management team has proven the leverage in the business model, with expanding gross profit margins and non-GAAP adjusted EBITDA margins,” said Jim Ousley, Chairman of the Board. “The Company was able to achieve this performance while successfully establishing Identiv as a leader in the highest-growth segments of the transforming physical security and secure identification space. However, we believe additional scale is required to consistently accelerate growth and profitability. The independent members of the Board of Directors are exploring strategic alternatives, which may include engaging independent experts to bring new perspectives to help the Company realize scale and maximize shareholder value.” No timetable has been set for Identiv’s evaluation of strategic alternatives. Identiv does not expect to comment further or update the market with any additional information on this matter unless and until the Independent Directors have approved a specific transaction or otherwise deem disclosure necessary or appropriate. There can be no assurance that the review of strategic alternatives will result in Identiv pursuing a particular transaction or completing any transaction.
Identiv, Inc. is a global provider of secure identification and physical security. The Company operates through two segments: Identity segment and Premises segment. Identity segment designs, technologies, and intellectual property (IP) that enable the secure digital capabilities of radio-frequency identification (RFID) chips to work within the analog world of antennas, power harvesting, data conversion and security. Premises segment offers a comprehensive, end-to-end product line with customization that meets the varying needs of the customers. Premises business product portfolio includes identity credentials, access readers, access control systems, video management systems, and video analytics, deployed in a hyper-converged platform or a cloud-based architecture. The Companyâs software platform for premises digitization enables centralized management of a physical place, including control of doors, cameras, gates, elevators and other building equipment.