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Vitaprotech group to acquire Identiv’s security business

Vitaprotech group, a European provider of electronic security solutions, announced the signing of a stock and asset purchase agreement with Identiv to acquire its security business for US$145M.

Identiv is a global digital security and identification company with more than 200 employees and presence in the U.S., Canada, Germany and India. The acquisition will increase Vitaprotech’s access to the North American market, delivering on its strategic objective to further expand outside of Europe, according to the company.

Identiv’s solutions include physical access, video and audio security as well as on-premise and cloud-based access control and VMS software. Its cloud-based software solutions have been granted FedRAMP Marketplace Authorization and its access control readers are certified as FICAM-compliant.

The combined group of Vitaprotech and Identiv’s security business will generate revenues in excess of $185M with more than 700 employees worldwide, according to the company.

“I am very pleased to welcome Identiv’s security business into the Vitaprotech group. 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,” said Eric Thord, president, Vitaprotech, in a statement.

The transaction is expected to close in the third quarter of 2024, subject to approval by Identiv’s stockholders, customary closing conditions and regulatory approval.