Yazılar

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

/in /tarafından

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.

Europe’s Airbus, Thales, Leonardo Near Satellite Merger to Rival Starlink

/in /tarafından

Europe’s leading aerospace groups Airbus, Thales, and Leonardo are finalizing a long-awaited merger of their satellite manufacturing operations, aimed at creating a continental space champion capable of competing with Elon Musk’s Starlink, people familiar with the talks told Reuters.

While the official announcement, initially expected Wednesday, was delayed by legal and financial fine-tuning, insiders said the deal remains on track, with only minor details causing the hold-up. “The announcement is ready,” said one source. “It’s industrially, technically, and financially complicated, but the framework is intact.”

Under the plan — known internally as “Projet Bromo” — the three companies will combine their satellite assets into a joint holding company, each owning roughly one-third after balancing payments. The new entity will require up to two years to finalize, pending regulatory approval, and could face scrutiny from EU competition authorities that previously blocked similar ventures.

The merger would make the group the largest global manufacturer of geostationary satellites, overtaking Maxar, Northrop Grumman, and Lockheed Martin, according to data from Quilty Space. However, analysts note that the geostationary satellite market has been shrinking due to the rise of low-Earth orbit constellations, led by SpaceX’s Starlink and Amazon’s Project Kuiper.

“Europe had a commanding lead in geostationary satellite manufacturing,” said Caleb Henry, research director at Quilty Space. “But this market has shrunk considerably in the face of these new titans of industry.”

The merger is seen as a strategic lifeline for Europe’s fragmented satellite industry, which has struggled to stay competitive amid rapid shifts in global space technology and soaring demand for low-orbit broadband systems.

Although corporate governance details — such as who will chair or lead the merged group — remain unsettled, sources said all three companies are committed to cooperation, driven by falling market share and rising losses in their satellite divisions.

If completed, the merger would mark the most significant consolidation in Europe’s aerospace industry in decades, signaling a coordinated effort to reclaim technological leadership in the new era of commercial space.

South Korea’s Hanwha Sells Entire 5.4% Stake in Eutelsat Amid Strategic Refocus

/in /tarafından

South Korean aerospace and defense company Hanwha Systems announced on Thursday that it is selling its entire 5.4% stake in the Franco-British satellite operator Eutelsat for €77.6 million ($88.5 million). This move comes as Eutelsat seeks new investors to support its second-generation low Earth orbit (LEO) satellite program and commitments to the European Union’s IRIS² project.

Eutelsat has faced significant financial challenges, accumulating hundreds of millions of euros in losses, largely due to its declining video business and delayed returns from its 2023 acquisition of OneWeb. The acquisition has struggled amid stiff competition and slower-than-expected technology deployment.

Hanwha’s sale price of €3.00 per share represented a 13.9% discount to Eutelsat’s previous closing price of €3.48 and reflects a steep loss of approximately 70.5% compared to Hanwha’s initial $300 million investment in OneWeb in 2021. Eutelsat’s shares reacted with a 14.8% drop on the Paris market following the announcement.

Hanwha emphasized that the sale aligns with a strategic pivot to focus more on its core businesses related to defense satellites and military communications, rather than civilian satellite operations. A Hanwha representative also resigned from Eutelsat’s board in April, signaling a reduced involvement.

Eutelsat is currently undergoing leadership changes and financial restructuring, with Jean-François Fallacher recently appointed as CEO. There are also reports that the French government is considering increasing its stake in Eutelsat, potentially doubling it with a capital injection of €1.5 billion to stabilize the company.

Meanwhile, both Starlink and Eutelsat OneWeb recently received licenses from South Korea’s Science Ministry to operate satellite internet services in the country, with service launches expected soon. Hanwha acts as a distributor for OneWeb in South Korea under a 2023 agreement targeting improved LEO communications for government and underserved areas.