Identiv to Acquire Mobile Security Company Thursby Software Systems, Inc.

FREMONT, Calif., Oct. 25, 2018 — Identiv, Inc. (NASDAQ: INVE), a global provider of physical security and secure identification, has entered into a definitive agreement to acquire  Thursby Software Systems, Inc., an Arlington, Texas-based provider of security software for mobile devices. The acquisition is expected to strengthen Identiv’s identity offerings with complete solutions for secure and convenient logical access across smart cards and derived credentials on Apple iOS and Android mobile devices. It is also a major strategic step towards Identiv’s vision of converged, highly secure yet frictionless access to information and places through a single identity and a single infrastructure platform.

Thursby’s software solutions provide strong security for enterprise and personal mobility, supporting bring-your-own-device (BYOD) and two-factor authentication (2FA) on mobile devices. The company enables Department of Defense (DoD) issued Common Access Cards (CAC), federally issued Personal Identification Verification (PIV) cards, derived credentials, and commercially issued PIV-I cards to access, sign, encrypt, and decrypt information and emails from Apple iOS and Android mobile phones or tablet devices. These capabilities have allowed over a hundred thousand DoD and federal employees, including the U.S. Navy Reserve via the Ready-2-Serve (R2S) mobile application, to use personal and government-furnished mobile devices to access needed information on-the-go. Thursby has sold more than one million software licenses to a range of customers and industries, including government, healthcare, finance, energy, education, research, Fortune 500, Global 2000, and OEMs.

“This combination substantially strengthens our position as a trusted provider of convenient high-security solutions to government and enterprise customers,” said Steven Humphreys, CEO of Identiv. “Thursby has built deep, long-standing customer relationships, completely aligned with our strategy of providing secure software platforms that are customizable to specific customer preferences. Thursby’s solutions truly deliver beyond its customers’ expectations, providing both high security and terrific end-user convenience. The company’s deep government strengths and mobile app expertise are core elements in our vision for federal and commercial security solutions. Thursby’s seamless support of both government-grade smart card deployments and derived credentials also aligns with our philosophy of supporting customers’ adoption of technologies at their own pace, optimized for their own use cases. We believe this accretive acquisition is a strategic step that moves us closer to achieving our long-term target business model, generating higher margins, improving profitability, and delivering a solutions platform that transforms our industry.”

Bill Thursby, President and Founder of Thursby Software Systems, commented: “In our 32 years, we have prided ourselves as being a leader in technology while remaining small and responsive. By becoming part of the Identiv family, we will retain our strengths while taking on the additional benefits of a large international company with an excellent reputation. We first partnered with Identiv in 2011 as both a supplier of smart card readers and a customer by adding the Thursby Sub Rosa license to the Identiv mobile reader line-up. We are excited to be joining the Identiv team who shares our passion for bringing together security and innovation for our customers.”

“We started working with Thursby and Identiv in 2016 to enhance productivity and secure BYOD and mobile access for our Reservists,” said Tim Bentjen, Director of IT Development, Navy Reserve. “Thursby has been a key partner in making sure our applications are highly secure, yet convenient, in the field. To ensure compatibility of our secure mobile applications on Android platforms, we have leveraged the Identiv smart fold reader/mobile dongle.”

Identiv’s acquisition of Thursby is subject to customary closing conditions and is expected to close on or about November 1, 2018. For additional details, please reference the Form 8-K to be filed with the U.S. Securities and Exchange Commission. Management will also discuss the acquisition on its third quarter 2018 conference call, scheduled to take place after market close on November 8, 2018.

About Identiv
Identiv, Inc. is a global provider of physical security and secure identification. Identiv’s products, software, systems, and services address the markets for physical and logical access control, video analytics, and a wide range of RFID-enabled applications. Customers in the government, enterprise, consumer, education, healthcare, banking, retail, and transportation sectors rely on Identiv’s access and identification solutions. Identiv’s mission is to secure the connected physical world: from perimeter to desktop access, and from the world of physical things to the Internet of Everything. Identiv is a publicly traded company and its common stock is listed on the Nasdaq Capital Market in the U.S. under the symbol “INVE”.

About Thursby Software Systems

Thursby is an American company, the market leader in enterprise Apple iPad, iPhone and Mac integration, management and security. Historically, integration was Apple to Microsoft-focused server infrastructure, and more recently cloud and Android. Clients range from the Pentagon, to Johns Hopkins, to the Discovery Channel and BMW. Support ranges from personal devices (BYOD) to organizationally or government furnished equipment across multiple sites and countries. The company offers mobile cases and dongles with built-in smart card readers, along with security software facilitating secure mobile card enablement for the government, healthcare, and other sectors.