Intuitive Machines to Acquire Lanteris for $800 Million

Lunar infrastructure firm Intuitive Machines has announced its intention to acquire Lanteris Space Systems, previously known as Maxar Space Systems, from private equity firm Advent International for $800 million. This acquisition represents a significant shift for Intuitive Machines, allowing it to broaden its scope from lunar exploration activities to include a more terrestrial focus in satellite manufacturing, particularly for defense applications.

In a press release, CEO Steve Altemus stated, “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, the company has primarily concentrated on contracts with NASA and commercial lunar exploration efforts, only recently entering the military space market.

In 2023, Intuitive Machines secured a notable contract worth $9.5 million from the Air Force Research Laboratory (AFRL) under the Joint Emergent Technology Supplying On-orbit Nuclear Power (JETSON) program. This initiative aims to develop technologies for on-board satellite nuclear fission reactors to support longer-duration missions in cislunar space, the Moon, and beyond. Following this, on October 22, 2023, Intuitive Machines announced an additional JETSON contract with AFRL valued at $8.2 million.

The rebranding of Maxar Space Systems to Lanteris on October 1, 2023 was seen as a precursor to the selloff, as Advent International typically specializes in buying, restructuring, and selling companies. Based in Palo Alto, California, Lanteris focuses on the manufacture and operation of satellite systems.

Last year, Lanteris was chosen by L3Harris as a subcontractor to produce 18 missile tracking satellites as part of a contract with the Space Development Agency. The company also manufactures the popular Maxar-1300 series commercial communications satellites for operations in geosynchronous Earth orbit.

Upon the announcement of the acquisition, Lanteris released a strategic roadmap emphasizing its commitment to national security and defense technology as a primary focus. The acquisition is anticipated to close in the first quarter of 2026, pending customary regulatory approvals and closing conditions.

This acquisition underscores Intuitive Machines’ ambition to diversify its portfolio and capitalize on the growing demand for satellite technology across various sectors, including defense. As the landscape of space exploration and technology evolves, this strategic move positions Intuitive Machines as a key player in the multi-domain space industry.