Lockheed Martin To Buy Astrotech's Space Operations Business Assets

(RTTNews) - Lockheed Martin (LMT) has agreed to acquire the assets of the Astrotech Space Operations business of Astrotech Corp. (ASTC) for $61 million. The transaction may close in the third quarter of 2014. Upon completion, Astrotech Space Operations business would be operated as Lockheed Martin's unit and managed by the corporation's Space Systems business area.

Astrotech Space Operations is a leader in satellite launch preparation services, from final testing and fueling to encapsulation and day-of launch operations since 1981.

Astrotech Space Operations serves a wide range of government and commercial customers, including both U.S. and international agencies and firms. Headquartered in Titusville, Florida, Astrotech Space Operations' facilities are located near Cape Canaveral, Florida and at Vandenberg Air Force Base, California, to support launches on both coasts