Identiv has entered into a $20.0 million term loan and line-of-credit agreement through Opus Bank‘s technology banking division. The proceeds of the transaction will be used to retire existing debt and enhance liquidity, creating a stronger financial platform to accelerate growth.
Identiv (Nasdaq:INVE) today announced that it has entered into a $20.0 million term loan and line-of-credit agreement through Opus Bank’s Technology Banking Division. The proceeds of the transaction will be used to retire existing debt and enhance liquidity, creating a stronger financial platform to accelerate growth.
“We are now focusing on delivering trust solutions for the rapidly expanding connected world,” said Jason Hart, CEO of Identiv. “Our ‘Trust Your World’ vision is applicable to billions of everyday items that demand to be trusted. We are expanding from a strong base, having shipped product for well over 100 million everyday items in 2013.”
“We could not be more excited about contributing to this shift in the industry. There is so much potential in the emerging Internet of Things market and in connecting everyday items,” said Kevin McBride, Senior Managing Director and Head of Opus Bank’s Technology Banking Division. “Identiv is a clear market leader with its strong capabilities and core competencies, and we are proud to be joining Identiv on this journey.”
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with over $3.7 billion of total assets, $2.9 billion of total loans, and $2.7 billion in total deposits as of December 31, 2013. Opus Bank provides high-value, relationship-based banking products, services and solutions to its clients comprised of small and mid-sized commercial business, entrepreneurs, real estate investors, professionals and consumers. Opus Bank offers a suite of treasury and cash management and depository solutions, and a wide range of loan products, including commercial and industrial, commercial real estate, multifamily residential, and is an SBA preferred lender. Opus Bank is an Equal Housing Lender. Opus Bank operates 60 banking offices, including two banking offices in the Phoenix metropolitan area of Arizona, 34 banking offices in California and 24 banking offices in the Seattle/Puget Sound region of Washington.
Identiv is a global security technology company that establishes trust in the connected world, including premises, information and everyday items. CIOs, CSOs and product departments rely upon Identiv’s Trust Solutions to reduce risk, achieve compliance and protect brand identity. Identiv Trust Solutions are implemented using standards-driven products and technology, such as digital certificates, mobility and cloud services.