Lockheed Completes Acquisition of Sunnyvale-Based Savi Technology

Sunnyvale, Calif. -- A little more than a month after first announcing the deal, defense contracting giant Lockheed Martin said that it has completed its acquisition of Sunnyvale-based Savi Technology, a maker of radio frequency identification (RFID) systems. Financial terms of the deal were not disclosed. Founded in 1989, Savi is a developer of hardware and software designed to track shipments in transit. The company, which has about 300 employees, also holds a majority interest in Savi Networks, a company building a public network in ports that can be used by shippers to monitor the status and security of cargo. Savi will now operate as a subsidiary of Lockheed, managed by Gaithersburg-based Lockheed Martin Integrated Systems & Solutions.
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