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Lockheed acquires Astrotech payload processing business
Posted: Tue, Jun 3, 2014, 6:21 AM ET (1021 GMT)
Lockheed Martin announced late last week that it is purchasing a division of Astrotech that processes satellites for launch. Lockheed will acquire Astrotech Space Operations from Astrotech for $61 million. Astrotech Space Operations, which will operate as a wholly-owned subsidiary of Lockheed's Space Systems division, has facilities in California and Florida to prepare satellite payloads for launch. The deal allows the parent Astrotech company, which previously was known as Spacehab, to focus on its space technology and space biotech efforts.
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