Intuitive Machines to Acquire Lanteris for $800 Million

Intuitive Machines, a company known for its focus on lunar exploration, has announced plans to acquire Lanteris Space Systems, which was formerly part of Maxar Space Systems, from private equity firm Advent International for $800 million. This acquisition marks a significant shift for Intuitive Machines, as it aims to broaden its business beyond lunar projects into satellite manufacturing, including applications in the defense sector.

In a statement, CEO Steve Altemus highlighted the transformative potential of this acquisition, saying, “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 partnerships with NASA and commercial lunar exploration efforts, with only limited involvement in military space initiatives.

Expanding Military Capabilities

In 2023, Intuitive Machines received a $9.5 million award from the Air Force Research Laboratory (AFRL) as part of the Joint Emergent Technology Supplying On-orbit Nuclear Power (JETSON) program. This initiative aims to advance technologies for on-board nuclear fission reactors, which could supply power to spacecraft subsystems such as sensors, communication payloads, and computing systems. The goal is to enable longer-duration missions through cislunar space and beyond.

On October 22, 2023, Intuitive Machines announced a follow-on contract from AFRL worth $8.2 million, further solidifying its position in the military space domain. The acquisition of Lanteris is expected to enhance these capabilities significantly, given Lanteris’s established presence in satellite manufacturing.

Lanteris’s Transition and Future Prospects

Lanteris was rebranded from Maxar by Advent on October 1, a strategic move widely interpreted as a precursor to the company’s sale. Advent International specializes in acquiring, restructuring, and selling businesses, and Lanteris has been positioned to focus on national security and defense technology.

Located in Palo Alto, California, Lanteris manufactures and operates various satellite systems. Notably, it was selected by L3Harris last year as a subcontractor to create 18 missile tracking satellites for the Space Development Agency. Additionally, it produces the popular Maxar-1300 series of commercial communications satellites for operations in geosynchronous Earth orbit.

According to the press release from Intuitive Machines, the acquisition is anticipated to close in the first quarter of 2026, contingent upon customary regulatory approvals and closing conditions. This acquisition not only represents a pivotal moment for Intuitive Machines but also illustrates a broader trend in the space industry toward multi-domain operations, integrating both commercial and defense applications.