The acquisition will expand Intuitive Machines' data services business beyond lunar and Earth-based operations to include missions in LEO, MEO, GEO, as well as on the Moon, Mars and in deep space.
Intuitive Machines has announced a definitive agreement to acquire Lanteris Space Systems (formerly Maxar Space Systems), a spacecraft manufacturer known for its reliable platforms serving national security, civil and commercial sectors. The acquisition, valued at $800m, will be made up of $450m in cash and $350m in Intuitive Machines Class A common stock, subject to customary adjustments. The deal, set to close in Q1 2026, is pending regulatory approvals and closing conditions.
With this acquisition from Advent International LLC, Intuitive Machines will evolve into a next-generation space prime, positioning itself at the centre of multi-billion-dollar space programmes. The combined company will have revenue exceeding $850m, a positive adjusted EBITDA, and a backlog of $920m as of September 30, 2025.
Steve Altemus, CEO, Intuitive Machines, said: “This strategic acquisition positions Intuitive Machines as a next-generation space prime directly in the flow of multi-billion-dollar space programmes. The combined entity revenue exceeds $850m, with positive Adjusted EBITDA, and $920m in backlog as of September 30, 2025. This marks the moment Intuitive Machines transitions from a lunar company to a multi-domain space prime, setting the pace for how the industrys next generation will operate.”
As a standalone entity, Lanteris is a cash-generating business. Once integrated, the combined company is expected to maintain sufficient cash reserves to support ongoing operations and future growth.
The acquisition aligns with Intuitive Machines long-term vision of becoming a vertically integrated space enterprise capable of designing, manufacturing, delivering, and operating missions from Earth orbit to the Moon, Mars and beyond.
Kam Ghaffarian, Chairman of Intuitive Machines, said: “Intuitive Machines vision is to expand its space infrastructure services from LEO, to GEO, beyond the Moon, and to Mars. In a time where we see a strong convergence of commercial, civil, and national security space, this strategic acquisition is a transformative step towards realizing that vision.”
Shonnel Malani, Managing Partner of Advent, stated: “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. This ongoing equity partnership underscores our confidence in the strength of this business combination and the long-term growth opportunity ahead.”
