Astrotech Sells Space Business To Lockheed Martin

Austin-based Astrotech Corporation, which says it is identify and commercializing space technology for use here on earth, said it it has sold substantially all of its properties and assets related to its Astrotech Space Operations business unit, to a wholly-owned subsidiary of Lockheed Martin Corporation. The deal was worth $61M. According to Atrotech, the move will better position the company for efforts it has in developing mass spectrometry sensors to the security, process control, laboratory and environmental markets. Astrotech is led by Thomas B. Pickens III.