Astrotech sells Astrotech space operations unit

25 August 2014

Astrotech Corp. (NASDAQ: ASTC) said it has completed the sale of substantially all of the properties and assets related to or used in its Astrotech Space Operations business unit to a wholly-owned subsidiary of Lockheed Martin Corp. (NYSE: LMT) for USD61m.

This transformative transaction is an important step in the company´s strategic evolution that allows it to maximize the value of its remaining operations, assets, and intellectual property.

Astrotech is a leader in identifying and commercializing space technology for terrestrial use. It subsidiaries are 1st Detect Corp., which is developing a miniaturized mass spectrometer, and Astrogenetix, Inc., which is a biotechnology company utilizing microgravity as a research platform for drug discovery and development.

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