Austin, TX (March 23, 2015) - Astrotech Corporation (Nasdaq:ASTC), a leading provider of disruptive technology solutions, announced today that it has successfully completed the acquisition of certain key assets and intellectual property from Image Trends, Inc., during a bankruptcy auction held in Austin, TX, on March 18th, 2015.
Astrotech’s management team has a long track record of identifying and creating value from distressed situations. “With the acquisition of these technologies, intellectual property, and know-how, coupled with selected high performance space imaging technologies, we have created Astral Images, Inc., revolutionizing the film to digital conversion process for the new Ultra-High Definition 4K standards,” stated Thomas B. Pickens, CEO of Astrotech.
About Astrotech Corporation
Astrotech is a leader in identifying and commercializing space technology for terrestrial use. 1st Detect Corporation is developing what we believe is a breakthrough miniaturized mass spectrometer, the MMS-1000™, while Astrogenetix, Inc. is a biotechnology company utilizing microgravity as a research platform for drug discovery and development. Astral Images provides an advanced film scanning and digital defect removal solution. All are wholly owned subsidiaries of the parent.
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.