Applied Aerospace Company & Defense (AA&D) acquired Vestigo Aerospace, known for its line of braking sails, which are used to launch satellites from orbit.
For reference: AA&D is an American company, formed by the merger of Applied Aerospace and PCX Aerosystems, which is a leading supplier of critical aviation equipment, space and defense. It specializes in the production of metal, composite and polymer components for missiles, satellites and aircraft.
Vestigo's Spinnaker line is designed for deorbiting cubesats, small satellites, orbital vehicles and upper stages of launch vehicles. Braking sails are thin structures, which deploy and operate by increasing aerodynamic drag and accelerating orbital decay.
AA's Senior Vice President of Marketing and Strategy&D reported, that the company's acquisition is subject to a FCC rule (FCC) on five-year deorbitization, which the Commission implemented in 2022 year. The FCC also proposed new regulatory rules to the US Federal Aviation Administration for launch vehicle upper stages. These regulations set additional requirements for all companies, that carry out space launches and operate satellite systems. Prior to the acquisition, Applied was a supplier to Vestigo Aerospace, providing advanced materials for thin film polymer sails and deployable beams, which are used in its products.
Source: https://www.satellitetoday.com