Informatics service provider Savi Technology has been acquired by affiliates of LaSalle Capital of Los Angeles.
The company said its purchase reflects the strong market for logistics informatics on an international scale and it will allow Savi to enhance its focus on global products and services. Terms of the deal were not disclosed.
Charles Meyer, president of LaSalle Capital, said, “We look forward to working with management in accelerating growth and expanding Savi’s opportunities and offerings to support its important customers as an independent business.”
Savi is in the final stages of developing multiple new solutions and expects to bring them to market soon, according to its President and Chief Executive Officer William Clark.
Clark’s company will focus its future efforts on logistics informatics, an emerging technology focused on the location, security, physical condition, and business status of physical objects as they move across geographies or are used by businesses. This market has developed due to supply chain automation and enhanced data capture.
Logistics informatics includes specialized hardware used to tag and read assets (often RFID), software to aggregate and format this data, and a new engine to build this into suggestions and controls for warehouse management and advanced reporting and analytic applications.
Savi said it currently tracks more than 5 million returnable assets for one customer alone, and is also enhancing efforts for countries in Africa to realize hundreds of millions of dollars in lost customs revenue and stolen goods and humanitarian relief supplies through improved cargo tracking. - Geoff Whiting