Intuitive Machines, a company focused on lunar infrastructure, has announced its intention to acquire Lanteris Space Systems, formerly a part of Maxar Space Systems. The deal, valued at $800 million, involves the purchase from private equity firm Advent International and aims to broaden Intuitive Machines’ operations beyond lunar exploration to include satellite manufacturing for defense and other terrestrial applications.
Steve Altemus, CEO of Intuitive Machines, highlighted the significance of this acquisition in a recent press release. He 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, Intuitive Machines has primarily focused on projects with NASA and commercial lunar exploration, only recently entering the military space market.
Expanding Capabilities and Market Reach
In 2023, Intuitive Machines secured a contract worth $9.5 million from the Air Force Research Laboratory (AFRL). This contract was awarded under the Joint Emergent Technology Supplying On-orbit Nuclear Power (JETSON) program, aimed at developing technologies for nuclear power sources that would provide electricity to spacecraft systems. This initiative is crucial for enabling longer missions in cislunar space, extending to the Moon and beyond. Following this, on October 22, 2023, the company announced an additional contract from AFRL valued at $8.2 million.
The acquisition of Lanteris marks a strategic pivot for Intuitive Machines. Lanteris, based in Palo Alto, California, focuses on the manufacture and operation of satellite systems. The company was rebranded from Maxar Space Systems on October 1, 2023, a move widely seen as a precursor to its sale. Private equity firms like Advent International typically engage in buying, restructuring, and selling businesses for profit.
Lanteris has positioned its future roadmap with a strong emphasis on national security and defense technology, indicating a significant shift in focus for the company following its rebranding. The company previously collaborated with L3Harris to build a series of missile tracking satellites under a contract with the Space Development Agency and has developed the successful Maxar-1300 series of commercial communications satellites.
Looking Ahead
The transaction is expected to be finalized in the first quarter of 2026, pending customary regulatory approvals and closing conditions. This acquisition not only enhances Intuitive Machines’ capabilities but also reflects the growing trend of private sector involvement in national security and defense technology. As the landscape of space exploration evolves, Intuitive Machines is positioning itself to play a pivotal role in the intersection of lunar exploration and terrestrial satellite technology.
