Lockheed Martin Purchases Astrotech Space Operations

AUSTIN, Texas, May 29, 2014 (ASTC PR) — Astrotech Corporation (ASTC) today announced a major step in its strategic evolution with the signing of a definitive agreement to sell the assets constituting its Astrotech Space Operations business (ASO) to Lockheed Martin Corporation, including the assets of its wholly owned subsidiary, Astrotech Space Operations, for $61 million.

“We are very excited about what this transaction means for our shareholders,” stated Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech Corporation. “This represents the beginning of a new era for Astrotech Corporation as the company can now concentrate our efforts on high growth business opportunities while having the needed resources to develop and fulfill the potential of our 1st Detect mass spectrometer product line.”

Subject to the satisfaction of customary closing conditions, including the approval by the Astrotech Corporation shareholders, the transaction is expected to close in the third quarter of 2014. Upon closing, ASO will be operated as a wholly-owned subsidiary of Lockheed Martin and managed by the corporation’s Space Systems business area.

About Astrotech Corporation

Astrotech is one of the first space commerce companies and remains a strong entrepreneurial force in the aerospace industry. We are leaders in identifying, developing and marketing space technology for commercial use. Our ASO business unit serves our government and commercial satellite and spacecraft customers with pre-launch services on the eastern and western range. 1st Detect Corporation is developing what we believe is a breakthrough miniaturized mass spectrometer, the MMS-1000(TM), while Astrogenetix, Inc. is a biotechnology company utilizing microgravity as a research platform for drug discovery and development.

  • Michael Vaicaitis

    The prepared and emphasised line that stood out for me, quote:
    “THAT is how a 21st-Century spacecraft SHOULD land”

    Elon was answering questions for 45 mins afterwards and a couple of titbits I noticed whilst glancing through media coverage:
    1) The interior will be “padded”, not just the silver of the pressure vessel. Presumably in some easy wipe clean vomit resistant material.
    2) The expectation is that the heatshield will last 10 flights. That’s ten missions of land, re-fuel, re-fly, before overhaul, recycle or scrapyard. The hope is to improve to last up to 100 flights (or should that be falls, when referring to the heatshield?).