May 09, 2006
Lockheed Martin to acquire Savi technology
Lockheed Martin will acquire Savi Technology after it had made an agreement with the RFID solution provider.
The California based Savi provides various types of RFID solutions including tags, readers and enterprise software. Savi has the track record of maintaining long standing professional relation with Department of Defence. Savi will receive $207.9 billion for its recent contract with DoD.
So Lockheed Martin will get full advantage of the deal.
Bob Stevens, Lockheed Martin's CEO said;
Savi's talented team of employees has successfully developed a complete line of active RFID solutions. The acquisition of this innovative company is consistent with our strategy of making investments that significantly enhance the capabilities we can offer our customers.
Via: [IndustryWeek]
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