SpaceX has quietly swooped in to buy a venerable parachute vendor on the verge of bankruptcy, The Information reports, in a rare acquisition by the launch provider as it gears up to play a pivotal role in NASA’s return to the Moon.
The company, Pioneer Aerospace, designs and manufactures parachutes for reusable spacecraft returning to Earth, including SpaceX’s own Dragon capsule used by NASA to ferry astronauts and supplies to and from the International Space Station.
According to a Florida bankruptcy filing by Pioneer’s parent company, SpaceX bought Pioneer for a bargain-basement $2.2 million, approved by a judge on November 22. The move wasn’t reported until this week.
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