Lockheed Martin To Acquire RFID Firm

On May 4, Lockheed Martin announced it had entered into a definitive agreement to acquire Savi Technolongy, Inc., a provider of RFID solutions.

Sunnyvale, Calif.-based Savi provides RFID solutions that include tags, readers and enterprise software. Savi, which has a long-standing contract with the Department of Defense, received a large increase from $207.9 million to $424.5 million in its RFID II contract with DoD in February.

"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," said Bob Stevens, Lockheed Martin's CEO.

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