Space company Astrotech acquires imaging technology in auction

AUSTIN, Texas, 24 March 2015. Astrotech Corp. (Nasdaq:ASTC), a provider of disruptive technology solutions, acquired certain key assets and intellectual property from Image Trends Inc. during a bankruptcy auction. Company officials coupled the acquired technologies, intellectual property, and know-how with selected high-performance space imaging technologies to establish Astral Images Inc., intended to revolutionize the film-to-digital conversion process for the new ultra-high-definition 4K (4K ultra HD) standards, affirms Thomas B. Pickens, CEO of Astrotech.

Astrotech’s management team has a long track record of identifying and creating value from distressed situations, officials say.

Astrotech identifies and commercializes space technology for terrestrial use, and integrates complementary disruptive technologies. The company’s 1st Detect Corp. is developing a breakthrough miniaturized mass spectrometer, the MMS-1000; Astrogenetix Inc. is a biotechnology company utilizing microgravity as a research platform for drug discovery and development; and Astral Images provides an advanced film scanning and digital defect removal solution.