Intuitive Machines to Expand Beyond Lunar Missions with $800 Million Acquisition of Lanteris Space Systems

Intuitive Machines announced on Tuesday that it will acquire Lanteris Space Systems — formerly Maxar Space Systems — from private equity firm Advent International in an $800 million deal aimed at transforming the company into a full-spectrum space services provider. The acquisition marks a major strategic shift for the Houston-based lunar lander manufacturer, broadening its scope well beyond the Moon.

The transaction, comprising $450 million in cash and $350 million in stock, is expected to close in the first quarter of next year pending regulatory approval. Following the news, Intuitive Machines’ shares fell about 5% in premarket trading.

CEO Steve Altemus said the acquisition “moves Intuitive Machines beyond the Moon and into a wider range of space projects.” The combined company will generate an estimated $850 million in annual revenue and hold about $920 million in future contracts as of September 30.

Lanteris builds satellites and spacecraft used for defense, communications, and scientific missions. It was previously the satellite manufacturing arm of Maxar Technologies, which Advent took private in 2023 for $4 billion. Advent will retain a minority stake in the merged entity.

The deal follows Intuitive Machines’ recent acquisition of deep-space navigation firm KinetX and several new U.S. government contracts, as the company positions itself as a key player in both lunar and orbital missions.

Separately, the company reported third-quarter revenue of $52.4 million, below analyst expectations of $68.1 million, and a net loss of $10 million, according to LSEG data.