SpaceX buys parachute manufacturer Pioneer Aerospace

SpaceX's Crew Dragon Endeavour splashes down in the Atlantic Ocean off the coast of Jacksonville, Florida on Monday, September 4, 2023 (EDT). The capsule returned from the International Space Station with the Crew-6 members Stephen Bowen, Woody Hoburg, Sultan AlNeyadi and Konstantin Borisov after 185 days.

SpaceX has acquired Pioneer Aerospace, a company that provided components for Dragon spacecraft parachutes before filing for bankruptcy. 

Elon Musk's aerospace company paid $2.2 million to rescue Pioneer Aerospace , according to a Florida bankruptcy filing in November by Aviation Safety Resources (ASR), the parent company of Pioneer. The deal was first reported by The Information.