{"id":121406,"date":"2025-11-04T14:47:10","date_gmt":"2025-11-04T14:47:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/121406\/"},"modified":"2025-11-04T14:47:10","modified_gmt":"2025-11-04T14:47:10","slug":"intuitive-machines-to-acquire-lanteris-space-systems","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/121406\/","title":{"rendered":"Intuitive Machines to acquire Lanteris Space Systems"},"content":{"rendered":"

WASHINGTON \u2014 Intuitive Machines, a company that develops lunar landers and other vehicles, announced Nov. 4 it is buying Lanteris Space Systems, a satellite manufacturer formerly known as Maxar Space Systems.<\/p>\n

Intuitive Machines said it signed an agreement with Advent International, the private equity company that owns Lanteris, to purchase Lanteris for $800 million: $450 million in cash and $350 million in Intuitive Machines Class A stock.<\/p>\n

\u201cThis strategic acquisition positions Intuitive Machines as a\u00a0next-generation space prime\u00a0directly in the flow of multibillion-dollar space programs,\u201d Steve Altemus, chief executive of Intuitive Machines, said in a statement.<\/p>\n

The combined company, Intuitive Machines stated, had $850 million in revenue over the 12 months ending in September, along with positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). It would also have a contract backlog of $920 million.<\/p>\n

Intuitive Machines is best known for developing a line of robotic lunar landers, two of which landed on the moon, albeit only partially successfully, in February 2024 and March 2025. The company is developing a network of lunar communications relay satellites and is bidding on a NASA program to develop a lunar rover for future Artemis crewed missions. It is also working on an Earth reentry vehicle, Zephyr.<\/p>\n

Intuitive Machines has yet to formally publish financial results for the third quarter, but in the statement said it recorded $52.4 million in revenue in the quarter and an adjusted EBITDA loss of $13.2 million.<\/p>\n

Lanteris is the rebranded Maxar Space Systems, a name change announced just a month ago<\/a>. Lanteris was split off from Maxar Intelligence, now known as Vantor, after Advent acquired Maxar Technologies in 2023.<\/p>\n

As Maxar Space Systems, and before that Space Systems\/Loral, the company was best known as one of the leading manufacturers of commercial geostationary orbit communications satellites. It felt the effects of a slump in global orders for such spacecraft, and has worked to diversify into developing low Earth orbit satellites and government work. That includes building the Power and Propulsion Element, one of the first modules for NASA\u2019s lunar Gateway.<\/p>\n

\u201cOur 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,\u201d said Shonnel\u00a0Malani, managing partner of Advent, in a statement.<\/p>\n

Intuitive Machines said that, by acquiring Lanteris, it can become a \u201cvertically integrated,\u00a0next-generation\u00a0space prime\u201d that can support customers from Earth orbit to the moon.<\/p>\n

\u201cThis marks the moment Intuitive Machines transitions from a lunar company to a multi-domain space prime, setting the pace for how the industry\u2019s next generation will operate,\u201d Altemus said.<\/p>\n

The companies said they expect the acquisition to close in the first quarter of 2026, subject to regulatory approvals.<\/p>\n

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