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Gary Kremen Joins Board As Identiv Positions For Growth

Stocks in this article: INV INVE

FREMONT, Calif., Feb. 24, 2014 (GLOBE NEWSWIRE) -- Internet business pioneer Gary Kremen has joined the Board of Directors of Identive Group, Inc. (Nasdaq:INVE).

"Over the past 14 weeks we have substantially simplified the business to create a focused growth platform that leverages our core competencies in delivering unique and patented trust solutions for premises, information and the rapidly growing market of everyday items. The key here is identities moving from analog to digital for billions of connected everyday items. Identiv intends to be at the heart of this revolution," said Jason Hart, CEO of Identiv. "To support and guide this vision I am extremely pleased to welcome Gary to our board. He is an iconic Silicon Valley technology pioneer who has identified and executed on important trends before others have seen the opportunity."

"With a rare blend of vision and business pragmatism, Gary will be an invaluable steward as we transform Identiv into a profitable and high-growth security technology company delivering Trust Solutions to the Internet of Things," said Steven Humphreys, Chairman of the Board.

Gary Kremen is a serial entrepreneur who invented online dating, having founded the dating website Match.com. He also founded Clean Power Finance, the leading white-label residential solar finance company, backed by Google, Kleiner Perkins Caufield & Byers, Edison International (parent company of Southern California Edison) and Duke Energy, among others. He is an investor in over 40 companies, private equity funds and venture capital funds. Kremen is credited as the primary inventor on a 1995-filed patent for dynamic web pages, and holds three other patents in financial-related systems management. Kremen holds Bachelor of Science degrees in Electrical Engineering and Computer Science from Northwestern University, as well as an MBA from the Stanford University Graduate School of Business.

Currently, Kremen is a principal with CapGain Solutions as well as Cross Coin Ventures. He serves on the boards of WaterSmart Software, for which he was a founding co-investor and is currently Chairman; CrowdFlower, for which he was the founding investor and Purissima Hills Water District, where he is President of the Board of Directors.

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