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DOD Extends Contract

MOUNTAIN VIEW, Calif -- The U.S. Department of Defense (DoD) has extended the time and increased the value of its Radio Frequency Identification (RFID) II contract with Savi, a Lockheed Martin [NYSE: LMT] company. The contract has been extended to Jan. 31, 2009 and its ceiling increased by about $60 million to $483 million for the companys active RFID products and services.

The contract amendments were made by the U.S. Army’s Information Technology, E-Commerce and Commercial Contracting Center (ITEC4), and the executive agent for the DoD is the office of the Product Manager, Joint-Automatic Identification Technology.

“We are proud to continue providing innovative RFID solutions that support the war fighter through this contract for another year,” said Vic Verma, chief executive officer of Savi Group. “This is the second contract extension and third ceiling increase that Savi has received on this contract, which was initially awarded in January 2003,” said David Stephens, chief executive officer of Savi Technology, a Savi line of business focused on enterprise-level RFID-based solutions and services for defense and government customers.

Savi Technology