Identiv Acquires Access Control, Telephone Entry Solutions From Viscount Systems

The acquisition will add Viscount’s web-based Freedom access control and Enterphone MESH telephone entry solutions to Identiv’s premises solutions.

FREMONT, Calif. —  Identiv (NASDAQ: INVE), a global provider of physical security and secure identification, announces it has entered into a definitive agreement to acquire substantially all assets of the Freedom, Liberty and Enterphone MESH products and services of Viscount Systems.

Identiv says the acquisition is expected to strengthen its premises segment with advanced, complementary solutions for the commercial and small- and medium-sized business (SMB) markets, leveraging Freedom’s IT-centric software, defined architecture and hardware-light platform.

The acquisition will add Viscount’s web-based Freedom access control and Enterphone MESH telephone entry solutions to Identiv’s premises solutions.

Focused on the SMB and commercial markets, Freedom, and the entry-level Liberty product line, are highly scalable, making them suitable for enterprise and federal solutions as well, according to the company.

Freedom is said to allow customers to build integrated access control and video management systems under one centrally managed or distributed network, integrating physical security devices such as card readers, ID management, Active Directory/LDAP, visitor entry, alarm points and video applications and analytics.

“This is another key step on Identiv’s path to deliver trusted as well as disruptive security solutions to our global customers,” says Steven Humphreys, CEO of Identiv. “Freedom and Enterphone MESH are highly complementary offerings, allowing us to address more customers and channels, adding SMB and distribution focus in the commercial market. The highly scalable web- and Cloud-based architecture aligns directly with our vision of an integrated software platform for convenience and security.”

“Just as important as the products, the Freedom team includes early leadership from such forward-looking companies as Open Options and Quantum Secure, and industry stalwarts such as Tyco,” Humphreys continues. ” This extraordinary team’s vision has driven the state-of-the-art Freedom and Enterphone MESH software platform, and the hardware-light Freedom Encryption Bridge. Their industry expertise and shared customer-centric philosophy aligns perfectly with Identiv’s. We enthusiastically welcome the Freedom, Liberty, and Enterphone MESH team.”

Identiv expects the acquired product lines to add between $4 million and $5 million to the company’s Premises segment revenue in fiscal 2019 and contribute positive adjusted EBITDA post synergies.

The asset purchase agreement is subject to customary closing conditions and is expected to close on or about January 2, 2019. The total consideration at close is expected to be $3 million, comprised of $1 million in cash and $2 million in shares of Identiv common stock, according to an announcement.

Additionally, in the event the business achieves certain significant sales targets in fiscal 2019 and 2020, Identiv would be obligated to issue additional earnout consideration in shares of Identiv common stock.

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