Join The Discussion

 

Great Woman of Texas; Stacie McDavid

“I’ve always been a maverick in a number of ways,” says businesswoman and philanthropist Stacie McDavid.

read more >

Thousands rally across US after Ferguson decision

Thousands of people rallied late Monday in U.S. cities including Los Angeles and New York to passionately but peacefully protest a grand jury's decision not to indict a white police officer who killed a black 18-year-old in Ferguson, Mo.

read more >

Fort Worth Thanksgiving schedule announced

Thanksgiving closures have been announced, with most Fort Worth city offices – including City Hall – set to close Thursday Nov.27 and Friday Nov. 28 for the holiday, according to a city news release.

read more >

Hope Lancarte of Joe T. Garcia's dies

Hope Lancarte, who ran her father's restaurant, Joe T. Garcia’s, for decades, died Thursday morning.. She was 86.

read more >

Earthquake hits on Saturday near Irving

A 3.3 magnitude earthquake shook the Dallas-Fort Worth area around 9:15 p.m. Saturday night, according to the United State Geological survey.

read more >

Lockheed acquires Texas company in aerospace sector

Amrita Jayakumar
(c) 2014, The Washington Post.
WASHINGTON — Lockheed Martin is expanding its space systems business.

The Bethesda, Md.-based defense giant announced Thursday that it will acquire Astrotech Space Operations, a satellite division of Astrotech Corp., which is headquartered in Austin. Astrotech Corp. was formerly known as Spacehab and was based in Houston.

The deal, if approved, is valued at $61 million and would close in the third quarter of this year.

"Astrotech Space Operations' expertise in the final stages of launch preparation complements our existing capabilities in satellite design, production and integration," Marillyn Hewson, Lockheed Martin's chief executive, said in a statement.

The acquisition is a relatively small one for Lockheed, which already has a robust space operation, said Roman Schweizer, a defense policy analyst at Guggenheim Partners.

"Lockheed has been very selective in the companies they acquire or lines of business they invest in," he said.

At an industry conference in New York on Thursday morning, Hewson said Lockheed would continue to make small acquisitions "to open into new markets."

The Lockheed-Astrotech deal comes on the heels of another aerospace merger. In April, Dulles, Va.-based Orbital Sciences said it would merge with Alliant Techsystems' defense segment to form a new company named Orbital ATK.

Once the $5 billion deal goes through, it will create a new player in the increasingly competitive aerospace sector, which has long been dominated by a Boeing-Lockheed Martin joint venture called United Launch Alliance.

Astrotech Space Operations provides support for government and commercial satellite launches. The company says it covers 90 percent of the U.S. satellite service market. It operates facilities in Florida and California.

Parent company Astrotech Corp. posted a net loss of $3 million in the third quarter of 2014, which it attributed to a light launch schedule. Revenue was down 66 percent from the previous quarter.

< back

Email   email
hide
Midterms
What was the message of the midterm elections?