Intuitive Machines acquires Lanteris Space Systems for $800M to expand beyond the Moon and push deeper into the space market

Intuitive Machines, best known for its lunar landers, is taking a major leap beyond the Moon. The Houston-based space company announced plans to acquire Lanteris Space Systems—formerly known as Maxar Space Systems—in an $800 million deal that signals its intent to become a full-service player in the space industry.

The acquisition marks a turning point for Intuitive Machines, which until now has been defined by its NASA-backed lunar delivery missions. By adding Lanteris, a company that builds satellites and spacecraft for defense, communications, and scientific missions, Intuitive Machines is expanding its reach into the broader satellite and spacecraft market—an arena dominated by legacy aerospace giants.

The deal, valued at $450 million in cash and $350 million in stock, is expected to close in the first quarter of next year, pending regulatory approval, Reuters reported. Shares of Intuitive Machines slipped about 5% in premarket trading following the announcement. CEO Steve Altemus called the move one that “moves Intuitive Machines beyond the Moon and into a wider range of space projects.” Once combined, the companies expect to generate more than $850 million in annual revenue and hold $920 million in future contracts as of September 30.

From Lunar Landers to Satellites: Intuitive Machines to Acquire Lanteris Space Systems for $800M

For Advent International, which bought Maxar Technologies for about $4 billion in 2023 and later spun off its satellite arm as Lanteris, the deal represents a partial exit while keeping a stake in the newly merged company. Lanteris brings with it a deep track record in building spacecraft for both government and commercial clients, adding a new layer of manufacturing and operational expertise to Intuitive Machines’ growing portfolio.

This isn’t Intuitive Machines’ first step into expansion. The company recently acquired deep-space navigation firm KinetX and secured multiple U.S. government contracts, positioning itself as a key contractor in NASA’s return-to-the-Moon efforts and beyond.

The timing of the Lanteris deal comes as Intuitive Machines faces short-term financial pressure. The company reported third-quarter revenue of $52.4 million, falling short of analysts’ expectations of $68.1 million, with a net loss of $10 million. Its current backlog stands at $235.9 million, driven by active NASA and U.S. Air Force projects.

Founded in 2013, Intuitive Machines went public in 2022 through a $1 billion SPAC merger that brought its lunar ambitions into the spotlight. Since then, it has been one of NASA’s selected contractors for three lunar missions aimed at sending the first American spacecraft to the Moon’s surface since the Apollo Program.

With Lanteris under its wing, Intuitive Machines is betting that its future lies far beyond lunar landings—staking its claim in the next phase of commercial space growth, where building, operating, and servicing spacecraft could define the next generation of space companies.