Thursday, April 15, 2010

Rockwest Technology Buy Completes

Denver-based Rockwest Technology Group, a provider of identification and security products, is now part of Identive Group, Identive said today. Identive said it paid 2.6 million shares of its common stock for Rockwest, in a deal worth approximately $4.94M. The acquisition had been announced by Identive Group on March 31st. According to Identive, Rockwest will add $5 to $6M in revenues this year to the firm, plus around $500,000 in cash to the firm's bottom line.