Intuitive Machines, known for its lunar landers and space vehicles, announced on November 4th its plans to acquire Lanteris Space Systems, previously known as Maxar Space Systems, a satellite manufacturer. The agreement with Advent International, Lanteris' owner, involves a purchase price of $800 million, comprising $450 million in cash and $350 million in Intuitive Machines Class A stock.

“This strategic acquisition positions Intuitive Machines as a next-generation space prime directly in the flow of multibillion-dollar space programs,” stated Steve Altemus, chief executive of Intuitive Machines. The merged entity boasts a revenue of $850 million over the past year (ending in September) and a contract backlog of $920 million.

Intuitive Machines has gained prominence for its robotic lunar landers, with two missions reaching the Moon in February 2024 and March 2025. They are also developing a lunar communications network and competing for a NASA contract to build a lunar rover for the Artemis program. Additionally, they're developing the Zephyr Earth reentry vehicle.

The company reported $52.4 million in revenue for the last quarter, with an adjusted EBITDA loss of $13.2 million. Lanteris, formerly Maxar Space Systems (rebranded a month prior), separated from Maxar Intelligence (now Vantor) after Advent acquired Maxar Technologies in 2023. As Maxar Space Systems and Space Systems/Loral before that, Lanteris was a leading manufacturer of geostationary orbit communication satellites, and has since diversified into low Earth orbit satellites and government projects, including NASA's lunar Gateway module.

“Our focus over the last two and half years has been to position Lanteris for sustainable growth by pivoting and investing behind national security priorities including helping enable next-generation missile defense for America,” said Shonnel Malani, managing partner of Advent.

Intuitive Machines expects the acquisition to transform it into a vertically integrated space prime, capable of supporting missions "from Earth orbit to the Moon." Steve Altemus further 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.”

The acquisition is anticipated to be finalized in the first quarter of 2026, pending regulatory approvals.