Vitaprotech Group confirms acquisition of Identiv

The Vitaprotech Group – with the support of Seven2 and BPIfrance – has confirmed the signing of a stock and asset purchase agreement to acquire Identiv.

The acquisition is a key milestone as it materially expands the company into the North American market.

Vitaprotech to acquire Identiv

According to Vitaprotech, under the terms of the agreement, Identiv will receive a cash payment of approximately $145m upon the closing of the transaction (subject to customary adjustments).

Identiv currently employs over 200 people across the US as well as Canada, Germany and India.

The company provides a high security platform which is utilised by both commercial entities and government agencies across the globe.

In light of the acquisition, it is anticipated that the combined group will now generate revenues in excess of $185m and that it will employ over 700 people worldwide

“Excellent reputation and expertise”

“I am very pleased to welcome Identiv’s Security Business into the Vitaprotech group,” commented Vitaprotech’s Eric Thord.

“Identiv’s Security Business, under the Hirsch, Velocity, TouchSecure, ScramblePad and other Identiv brands, has built an excellent reputation and expertise in the field of high security access control and video applications.

“The combination of its physical security, mobile access control and cloud-based offering is truly impressive and value enhancing for the whole Vitaprotech group.

“Steven Humphreys will join Vitaprotech as our Deputy CEO and Identiv’s management will lead our North American activities and key product and infrastructure activities.

“I am looking forward to working alongside them in shaping the future of this newly born global group.”

“The entire Identiv team is excited”

“This highly complementary business combination is a true win for both the Identiv and Vitaprotech
teams as well as for our customers, partners and the industry overall,” said Identiv’s Steven Humphreys.

“Our products together represent the industry’s most complete platform, spanning access control, perimeter security, video surveillance, analytics, credentials, physical and logical access readers, monitoring and physical security management software (PSIM’s).

“With deep strength in both Europe and the Middle East and across North America, we’re one of the most truly global security companies.

“Together we secure some of the most critical locations worldwide, with a platform built on the highest levels of cyber and physical security, scalable from small shops to global enterprises and government organisations.

“The entire Identiv team is excited to bring the full range of our combined high security capabilities to customers worldwide.”