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Electronics Production |

Lockheed Martin to acquire Astrotech Space Operations

Lockheed Martin has entered into a definitive agreement to acquire the assets of the Astrotech Space Operations business of Astrotech Corporation.

Astrotech Space Operations provides satellite launch preparation services, from final testing and fueling to encapsulation and day-of launch operations. The terms of the agreement are not material to Lockheed Martin. Subject to the satisfaction of customary closing conditions, including approval by the Astrotech Corporation shareholders, the transaction is expected to close in the third quarter of 2014. Upon closing, Astrotech Space Operations will be operated as a wholly-owned subsidiary of Lockheed Martin and managed by the corporation’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,” said Marillyn Hewson, Lockheed Martin Chairman, President and CEO. “This new capability expands our Space Systems services portfolio and enhances the value we offer to current and future Lockheed Martin and Astrotech customers.” “Joining Lockheed Martin will benefit our customers and our employees,” said Don White, Senior Vice President and General Manager of Astrotech Space Operations. “As a wholly-owned subsidiary, we’ll be able to deliver the same level of expert, affordable launch preparation services our customers have come to expect with the added strength and stability of a company that’s been a leader in the space industry since day one.”

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March 28 2024 10:16 am V22.4.20-2
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