Thursday, April 15, 2010

Identive Group Buys Rockwest Technology

Santa Ana-based Identive Group, which was formerly known as SCM Microsystems, announced today that it has acquired Rockwest Technology Group, a provider of identification and security products. Identive said it paid 2.6 million shares of its common stock for RockWest, a deal worth approximately $4.94M. Identive said that RockWest is now a wholly owned subsidiary of the firm, and that it expects RockWest to add $5 to $6M in revenues for the year, and over $500,000 in cash to the firm's balance sheet. RockWest was based in Denver.