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Industry & Trends | Lockheed Martin | Mergers & Acquisitions | Other Corporation

Lockheed Martin Acquires RFID Firm Savi

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While the US Marines have been seeing concrete payoffs from RFID technology in their supply chain, Lockheed Martin Corporation has entered into a definitive agreement to acquire RFID equipment and solutions provider Savi Technology, Inc. Think of RFID as wireless bar codes that don’t need to be swiped individually. Savi’s products include active RFID asset tags, data rich high performance tags, sensor tags that monitor security and environmental conditions, related fixed and mobile readers, as well as fully integrated site and enterprise software products that enable customers to track shipments worldwide. RFID-enabled supply chain(click to view full) Terms of the transaction were not officially disclosed, but the San Jose Mercury’s reports that the price was around $400 million and that Savi largest shareholder, San Francisco buyout firm Vector Capital, has agreed to the deal. The Savi deal is expected to close in the second quarter, subject to antitrust review. Its 300 or so employees will then operate within a wholly owned subsidiary of Lockheed Martin, managed by Lockheed Martin Integrated Systems & Solutions. Savi has won a number of large US government contracts, and Lockheed’s CEO noted that “Savi’s talented team of employees has successfully developed a complete line […]

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