Spacefaring Parachute Company in Rocketeer's Sights in Rare Purchase

Pioneer Aerospace will be bought up by SpaceX thanks to its parent company's bankruptcy (and the many creditors who appear to be getting screwed over in the process) to the tune of a paltry $2.2 million, bringing the spacecraft parachute specialist under the SpaceX umbrella.

The last acquisition by SpaceX came at a much stiffer $524 million, when it bought up satellite network underdog Swarm. They're getting a lot for their money this time around. Pioneer has a storied history that stretches all the way back to its 1938 founding, including a resume of impressive NASA and SpaceX missions.

Pioneer Aerospace just had the unfortunate luck of being acquired by Aviation Safety Resources in June of 2022, a company that 17 months later washed upon the shores of bankruptcy. It's some consolation that they will find themselves comfortably integrated into a like-minded, space-centric bunch at SpaceX. They should prove to be in much better hands than they were with ASR, in any case.

FMI: www.spacex.com