Daily News: April 1, 2014

Opus Enters into Term Loan/Credit Line Agreement with Identiv

Identiv announced it entered into a $20 million term loan and line-of-credit agreement through Opus Bank’s Technology Banking Division.

Proceeds 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.”

Identiv is a global security technology company.