Lockheed Martin Corporation plans to acquire Savi Technology, which provides radio frequency identification solutions, much of it targeted at the defense industry. Savi, based in Sunnyvale, California, has developed logistics solutions that track in-transit asset shipments. Its full line of hardware and software products have been implemented by the U.S. Department of Defense, international defense agencies, civil agencies and commercial enterprises to monitor cargo shipments globally. Savi's products include active RFID asset tags; data-rich, high-performance tags; sensor tags that monitor security and environmental conditions; and related fixed and mobile readers.
Savi will be a wholly owned subsidiary of Lockheed Martin and managed by Lockheed Martin Integrated Systems & Solutions of Gaithersburg, Md.
"Savi Technology pioneered the use of active RFID technology to track global shipments, particularly for defense agencies around the world," says Adrian Gonzalez of ARC Advisory Group. "In February 2006, Savi announced that the U.S. DoD had increased its RFID II contract value with the company from $207.9m to $424.5m and had extended the ordering period for the company's active RFID products and services by another two years. Considering Savi's continued success in this segment and Lockheed Martin's strong presence in defense and military, this acquisition makes sense."
Visit www.savi.com.