The company came to the conference with continued focus on specialty IoT.
Last week, Identiv announced that it had entered into a definitive agreement to sell their physical security business (about 60 percent of the company’s fiscal 2023 revenue) to security solutions firm Vitaprotech.
Identiv displayed their innovative products for healthcare, smart packaging, specialty retail and more at RFID Journal LIVE! this week.
The transaction is expected to close in Q3 of this year, pending regulatory and stockholder approval, according to a press release. Upon closing, some executives will join Vitaprotech, including Identiv’s current CEO Steven Humphreys. Incoming President of IoT Solutions Kirsten Newquist will then assume the role of CEO of Identiv.
Drilling Into Smart Packaging, Pharmaceuticals and More
The IoT business that Identiv will be focusing on includes smart packaging, specialty retail, as well as medical devices and pharmaceuticals, said Amir Khoshniyati, executive VP and general manager of Identiv IoT.
While Khoshniyati says much of the RFID industry is meeting the high-volume demand for standard UHF RFID labels (to meet retailer mandates), Identiv wants to take a different path.
“We’re focused on specialty products,” he said including the value-add for companies that aren’t necessarily trying to meet commoditized UHF RFID mandates, but rather provide engagement, authenticate products, or track conditions in a complex supply chain.
Identiv offers solutions such as NFC based authenticity and brand engagement and Bluetooth Low Energy (BLE) or Wiliot Ambient IoT-based condition monitoring, for perishable foods but also drugs destined for healthcare facilities and patients.
Key Takeaways:
- The company demonstrated its IoT offerings at RFID Journal LIVE this week, with a focus on growing in healthcare and specialty markets.