Satellite launch provider Astrotech Space Operations to be acquired by Lockheed Martin
NewsMay 30, 2014
BETHESDA, MD. Lockheed Martin officials announced they have a definitive agreement to acquire the assets of Astrotech Corp's Astrotech Space Operations business unit in Titusville, FL. The organization provides satellite launch preparation services, from final testing and fueling through to encapsulation and day-of launch operations. Once the deal is closed, Astrotech Space Operations will become a wholly-owned subsidiary of Lockheed Martin under it's Space Systems business area.
“Astrotech Space Operations’ expertise in the final stages of launch preparation complements our existing capabilities in satellite design, production, and integration,” says Marillyn Hewson, Lockheed Martin Chairman, President, and CEO.
Astrotech's customers include both U.S. and international agencies and firms. Its facilities are located near Cape Canaveral, FL and at Vandenberg Air Force Base, CA, to support launches on both coasts.
The terms of the agreement are not material to Lockheed Martin. Subject to the satisfaction of customary closing conditions, including approval by Astrotech Corp.'s shareholders, the deal is expected to close this fall.
