Intuitive Machines to Acquire Lanteris for $800 Million

Intuitive Machines, a company focused on lunar infrastructure, has announced plans to acquire Lanteris Space Systems for $800 million. This acquisition will facilitate a significant shift in Intuitive Machines’ operational focus, moving beyond lunar exploration to encompass satellite manufacturing, including applications in the defense sector.

Steve Altemus, CEO of Intuitive Machines, emphasized the importance of this transition, stating, “This marks the moment Intuitive Machines transitions from a lunar company to a multi-domain space prime, setting the pace for how the industry’s next generation will operate.” Until now, Intuitive Machines has primarily concentrated on contracts with NASA and commercial lunar endeavors, having barely entered the military space market.

In 2023, Intuitive Machines received a $9.5 million award from the Air Force Research Laboratory (AFRL) under the Joint Emergent Technology Supplying On-orbit Nuclear Power (JETSON) program. This initiative aims to develop nuclear power sources to support onboard satellite systems, enabling longer missions in cislunar space, to the Moon and beyond. On October 22, 2023, the company secured a follow-on contract from AFRL valued at $8.2 million to further advance these technologies.

The rebranding of Maxar Space Systems to Lanteris took place on October 1, 2023, as part of a strategy by private equity firm Advent International to position the company for sale. Advent specializes in acquiring, restructuring, and selling businesses, and Lanteris is now set to enhance Intuitive Machines’ capabilities. Based in Palo Alto, California, Lanteris is known for its production and operation of satellite systems.

In addition to its focus on national security and defense technology, Lanteris has been involved in significant projects, including a contract with L3Harris to build 18 missile tracking satellites for the Space Development Agency. The company also manufactures the Maxar-1300 series of commercial communications satellites, which are widely used in geosynchronous Earth orbit.

According to Intuitive Machines’ press release, the acquisition is expected to close in the first quarter of 2026, pending customary regulatory approvals and other closing conditions. This strategic move signals a pivotal moment for Intuitive Machines as it positions itself for broader market engagement and technological advancements in both civil and defense sectors.