I have found this great texture tool for blender called TexTools. You may know the tool from 3ds Max. The AddOn is completely free and should found its way to every 3D artist who use blender for work.
Current features include: Easy Texture Baking, UV Align and Selection tools and Texel Density tools.
Official website
http://renderhjs.net/textools/blender/
Overview of the current version
New features
Crop tool
Crops UVs to the selection

Get and set Texel density
With 2 scale modes: by individual islands or as a whole
Resize UV
Extends or shrinks the UV canvas
UV channel inspector and swap uv channels
There is also a new bake object type detection: geometry floaters
Its more of a edge case right now but when baking AO from a floater geonetry by separating it from the highpoly and tagging it as a floating object it will prevent baking shadows.