PIXIE III is the third generation of very large area (32 x 25 mm(2)) pixel ASICs developed by Pixirad Imaging Counters s. r. l. to be used in combination with suitable X-ray sensor materials (Silicon, CdTe, GaAs) in hybrid assemblies using flip-chip bonding. A Pixirad unit module based on PIXIE III shows several advances compared to what has been available up to now. It has a very broad energy range (from 2 to 100 keV before full pulse saturation), high speed (100 ns peaking time), high frame rate (larger than 500 fps), dead-time-free operation, good energy resolution (around 2 keV at 20 keV), high photo-peak fraction and sharp spectral separation between the color images. In this paper the results obtained with PIXIE III both in a test bench set-up as well in X-ray imaging applications are discussed