Astrotech Corp. to Sell Space Operations business to Lockhead Martin; xG Technology Announces Second Patent this Week

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Astrotech Corp. to Sell Space Operations business to Lockhead Martin; xG Technology Announces Second Patent this Week

Astrotech Corp. (NASDAQ: ASTC) shares closed up a little over 41% on Thursday with nearly 10 million shares traded. The stock was one of the biggest gainers on the NASDAQ and hit a new yearly high of $4.59 during intra-day trading. The company has agreed to sell its Astrotech Space Operations business to Lockhead Martin for $61M. "We are very excited about what this transaction means for our shareholders," CEO Thomas B. Pickens III said in a statement. "This represents the beginning of a new era for Astrotech Corporation as the company can now concentrate our efforts on high growth business opportunities while having the needed resources to develop and fulfill the potential of our 1st Detect mass spectrometer product line."

Astrotech Corporation operates as a commercial aerospace company in the United States. The company offers support services for government and commercial customers to process complex communication, earth observation, and deep space satellites in preparation for their launch of various launch vehicles.

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xG Technology, Inc. (NASDAQ: XGTI) shares closed up 23.53% on nearly 16 million shares traded on Thursday. The company announced its second new U.S. patent award this week. In a statement, xG Technology said it had been awarded a patent for interference mitigation techniques, an invention that "helps improve performance of wireless systems by overcoming impairments to transmission quality.""This new patent enhances xG's position as a leader in developing innovative approaches to overcoming the challenges faced by today's wireless networks," said CEO John Coleman.

xG Technology, Inc. develops communications technologies for wireless networks worldwide. It primarily offers a portfolio of intellectual property to enhance wireless communications. The company’s intellectual property is embedded in proprietary software algorithms designed to offer cognitive interference mitigation and spectrum access solutions to organizations in a various industries, including national defense and rural broadband.

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