Identive Group, a provider of products, services and solutions for the identification, security and RFID industries, announced it entered into an agreement on December 22, 2011 among Identive, ActivIdentity Corporation and idOnDemand, to acquire the remaining outstanding shares of idOnDemand, held by ActivIdentity for a sum of $500,000. The agreement contains customary provisions and certain relea...
Identive Group, a provider of products, services and solutions for the identification, security and RFID industries, announced it entered into an agreement on December 22, 2011 among Identive, ActivIdentity Corporation and idOnDemand, to acquire the remaining outstanding shares of idOnDemand, held by ActivIdentity for a sum of $500,000. The agreement contains customary provisions and certain releases. Upon consummation of the share purchase, idOnDemand will be a wholly-owned subsidiary of Identive.
“As we expand our R&D investment in SaaS and gear up to launch our cloud-based secure NFC platform, we view full ownership of idOnDemand to be strategically important and we are pleased to have been able to reach this agreement,” stated Ayman S. Ashour, Chairman and CEO of Identive.
As previously announced, Identive acquired more than 95 percent of the shares of stock of idOnDemand on May 2, 2011. Based in California, idOnDemand is a pioneer of the Software as a Service (SaaS) business model, delivering a managed identity service that allows organizations to use a single, globally trusted credential for secure access to buildings, computers, mobile devices and corporate information stored in the cloud.