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Lockheed Looks for a Savi BuyerThe defense contractor seeks to sell off its 433 MHz RFID tag and reader division, which plans to shift its marketing and product-development focus to the commercial sector.
Nov 11, 2011—Citing Savi Technology's need to grow in commercial sectors—as opposed to the military, on which the bulk of its business has traditionally been focused—defense contractor Lockheed Martin intends to sell its 433 MHz RFID tag and reader division. Lockheed Martin expects the sale to take place within the next year.
"While there have been a host of events that have led to this point," says Heather Kelly, a Lockheed Martin spokesperson, "the decision to sell Savi reflects a solid business rationale that recognizes that there are fewer opportunities with Savi's products in our core Lockheed Martin market areas." 
Savi's William Clark
That business peaked in 2008, says Bill Clark, Savi Technology's CEO, about two years after Lockheed Martin acquired the company. As the U.S. military's demand for active RFID technology declined, she explains, along with the economic downturn, Savi has been increasingly refocusing its efforts to include the commercial sector. "The market for Savi products and services remains attractive," Kelly states, "but is developing in markets outside LM's core market interests." Login and post your comment!Not a member? Signup for an account now to access all of the features of RFIDJournal.com! |
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