Lockheed Martin completes Savi buy
Savi will keep its name
- By Roseanne Gerin
- Jun 09, 2006
Lockheed Martin Corp. completed its acquisition of radio frequency identification developer Savi Technology Inc. Terms of the deal, announced May 4, were not disclosed.
Lockheed Martin Integrated Systems & Solution business unit of Gaithersburg, Md., will manage its operations, but Savi will retain its name.
Savi of Sunnyvale, Calif., Savi delivers RFID solutions for managing supply chain assets, shipments and consignments for defense and commercial clients. It has furnished RFID Solutions to the Defense Department for more than a decade.
Lockheed Martin of Bethesda, Md., has about 135,000 employees and reported 2005 revenue of $37.2 billion. It ranks No. 1
on Washington Technology's 2006 Top 100
list of federal prime contractors.