Identive surges after launching secure ID reader for Apple devices

Identive Group, which markets products, software and services for identity management and cashless payment, jumped after the company announced earlier this morning a new smart card reader for use with Apple (AAPL) mobile devices. Identive said its iAuthenticate reader allows iPad, iPhone and iMac users to authenticate themselves to secure networks, websites and payment systems using their smart chip-based IDs or credit cards. The initial version of the reader is targeted at the U.S. government and worldwide enterprise markets, the company stated. The company also said the reader complies with all relevant U.S. federal standards and an application is in process for its inclusion on the U.S. General Services Administration's Approved Product List. In mid-morning trading, Identive shares surged 38c, or 36.18%, to $1.43.

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