RFID solutions company Savi Technology will be independent no more. On Thursday afternoon, Lockheed Martin Corporation, perhaps best known for their aerospace divisions, announced that the two companies had formed a purchase agreement. The value of the agreement has not been disclosed.
The acquisition of Savi, which has built up a software and hardware line for asset tracking that's been used by the DOD and commercial enterprises, ties in directly with Lockheed Martin's government-focused solutions. There are applications for the RFID solutions not only in Lockheed's logistics and baggage handling operations for airports, but also in its supply of products to the DOD, and is, of course, generally applicable to the systems integration work that this mega-contractor handles.
Savi, which has been based out of Sunnyvale, Calif., has offered a full set of RFID technologies, from active tags to data-rich tags, sensor tags for security and environmental condition monitoring, fixed and mobile readers, and integrated software systems.
In the announcement of the purchase agreement, Lockheed Martin Chairman Bob Stevens said the acquisition would add strategic offerings to Lockheed's product and service sets. "The acquisition of this innovative company is consistent with our strategy of making investments that significantly enhance the capabilities we can offer our customers," said Stevens.
Lockheed Martin is based out of Gaithersburg, Md., and indicated that once the acquisition was completed, Savi would become a wholly own subsidiary managed entirely by Lockheed Martin.