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| FOR IMMEDIATE RELEASE
| Media Contact:
Mark Nelson
Savi Technology
650-316-4872
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Information
LOCKHEED MARTIN COMPLETES SAVI
TECHNOLOGY, INC. ACQUISITION
Purchase of Active RFID supplier enhances
capabilities
in global focused logistics
BETHESDA, Md., June 8, 2006 – Lockheed Martin Corporation [NYSE: LMT] has completed its acquisition of Savi Technology, Inc.(Savi), a proven leader in active radio frequency identification (RFID) solutions.
Savi, based in Sunnyvale, Calif., has developed innovative logistics solutions that track in-transit asset shipments in a secure, accurate and timely manner. Its full line of integrated hardware and software products have been implemented by the U.S. Department of Defense, international defense agencies, civil agencies and commercial enterprises to monitor cargo shipments globally. Savi’s products include active RFID asset tags, data rich high performance tags, sensor tags that monitor security and environmental conditions and related fixed and mobile readers. The company’s fully integrated site and enterprise software products provide customers a complete solution for tracking shipments worldwide. Savi’s operations include a majority interest in Savi Networks, LLC, which is building a public network infrastructure in ports around the world that can be used by shippers to monitor the status and security of cargo containers. Founded in 1989, Savi employs approximately 300 people.
The new organization will be known as Savi Technology, a Lockheed Martin Company, and will be a wholly-owned subsidiary of the Corporation. Lockheed Martin Integrated Systems & Solutions, based in Gaithersburg, Md., will manage all operational aspects of the business
The acquisition was originally announced May 4, 2006. Terms of the transaction were not disclosed.
Headquartered in Bethesda, Md., Lockheed Martin employs about 135,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2005 sales of $37.2 billion.
Media Contact Lockheed Martin Corporation: Jeff Adams, (301) 897-6308; jeffery.adams@lmco.com
For additional information, visit our web site: www.lockheedmartin.com
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About Savi Technology
With over 17 years experience, Savi is a proven leader in RFID solutions for the management and security of supply chain assets, shipments and consignments. Savi's integrated RFID hardware and software solutions drive business value, such as reducing supply chain assets, inventory and operational costs. Founded in 1989, Savi Technology is a wholly-owned subsidiary of Lockheed Martin, with headquarters in Mountain View, California, and offices in Johannesburg, London, Melbourne, Singapore, and Washington D.C. For more information, visit www.savi.com
™ - Savi, Savi SmartChain, SmartChain, the Savi logo, EchoPoint, the EchoPoint logo, Sentinel and UDAP are trademarks or registered trademarks of Savi Technology, Inc. in the United States and other countries.
About Lockheed Martin
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2006 sales of $39.6 billion. For additional information, visit www.lockheedmartin.com. |
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