Identiv will sell its specialty Internet of Things (IoT) business, including its German R&D center and Identiv (Thailand) Co., Ltd., to Trackonomy Systems, Inc. The transaction consideration consists of $50 million in Series C Preferred Stock of the Buyer and the assumption of certain liabilities, with Identiv contributing $25 million in cash. Identiv will pivot its business strategy to focus on acquiring and operating compliance SaaS businesses in highly regulated industries. The company entered a strategic framework agreement to collaborate on future software opportunities leveraging Trackonomy's physical AI platform. The Board of Directors increased the existing stock repurchase program by $32 million, bringing the total authorization to $40 million. The transaction is expected to close in Q3 or early Q4 2026, subject to stockholder approval and other customary closing conditions.