Lockheed Martin to Aquire RFID Savi Technology

Lockheed Martin to Aquire RFID Savi Technology
Submitted by Anonymous on Mon, 2006-05-08 07:56.

Savi’s products include active RFID asset tags, data rich high performance tags, sensor tags that monitor security and environmental conditions

Lockheed Martin Corporation has entered into a agreement to acquire Savi Technology, Inc., a provider of active radio frequency identification (RFID) solutions. Terms of the transaction were not disclosed.

Savi, based in Sunnyvale, Calif., has developed logistics solutions that track in-transit asset shipments in a secure, accurate and timely manner. 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. The company’s fully integrated site and enterprise software products provide customers a complete solution for tracking shipments worldwide. Founded in 1989, Savi employs approximately 300 people.

The boards of directors of both Lockheed Martin and Savi’s parent company, Infolink Systems, Inc., have approved the transaction, which is subject to customary closing conditions (including antitrust review), and is expected to close in the second quarter. Savi will be a wholly owned subsidiary of Lockheed Martin managed by Lockheed Martin Integrated Systems & Solutions, Gaithersburg, Md.

Headquartered in Bethesda, Md., Lockheed Martin employs about 135,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2005 sales of $37.2 billion.