Pillsbury advised Identiv, Inc., a global digital security and identification leader in the Internet of Things (IoT), in entering into a definitive asset purchase agreement to sell its physical security, access card and identity reader operations and assets to security solutions provider Vitaprotech.

Under the terms of the agreement, Identiv will receive a payment of $145 million upon closing of the transaction, subject to customary adjustments and will remain a publicly listed company on the Nasdaq stock exchange under the ticker symbol “INVE.”

Click here to learn more about the transaction.

The Pillsbury deal team was led by Corporate partner Stan Pierson and included counsel Brandon Eckford and associates Kristin Garr, Ann Kim and Chantele Karim; Capital Markets partners Gabriella Lombardi and Julie Park; Tax partner Brian Wainwright; International Trade partner Matt Rabinowitz and associate Barbra Kim; Executive Compensation & Benefits partner Colleen Lamarre; Regulatory attorney Evan Storm and associate Iris Karaman; Intellectual Property partner David Jakopin and Technology Transactions partner Steven Farmer.