Lockheed Acquires Space Firm for $61 Million

May 30, 2014

WASHINGTON — Lockheed Martin reached an agreement to purchase the Space Operations arm of Astrotech, a move that should help the largest defense company in the world grow its launch capabilities.

The procurement of the Space Operations group will cost Lockheed $61 million, a relatively small amount. The deal is expected to be finalized in third quarter of this year. The business arm will become a wholly owned subsidiary operating under Lockheed’s Space Systems unit.

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