Intuitive Machines to Buy Lanteris Space Systems in $800 Million Move to Bolster Satellite Business

Houston-based aerospace firm Intuitive Machines has announced a £640 million ($800 million) deal to acquire Lanteris Space Systems, a legacy satellite manufacturer, in a move that marks a turning point for the once-startup company as it seeks to cement its position as a major player in the global space industry.

The acquisition would make Intuitive Machines one of the few 'New Space' companies to successfully absorb an 'Old Space' stalwart, signifying a consolidation and maturity in the fast-evolving private space sector.

The transaction, which is expected to close early next year pending regulatory approvals, is also one of the largest in the company's decade-long history.

A Leap from Moon Missions to Satellites

Intuitive Machines, founded in 2013 by entrepreneur Kam Ghaffarian and former NASA engineers Stephen Altemus and Tim Crain, has built its reputation on lunar exploration.

The company gained prominence after landing two robotic spacecraft on the Moon under NASA's Commercial Lunar Payload Services (CLPS) programme in 2024 and 2025.

Now, the acquisition of Lanteris will allow it to expand far beyond lunar missions into satellite manufacturing and orbital services, tapping into one of the most lucrative segments of the global space economy.

'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,' said CEO Steve Altemus in a statement.

Lanteris, which only recently changed its name from Maxar Space Systems, has an extensive track record in building large satellites for the US Space Force, NASA, and commercial telecommunications providers.

The company's origins date back to 1957, when it was founded as the Western Development Laboratories division of Philco Corporation in Palo Alto, California. Its first spacecraft, Courier 1B, launched in 1960 and became the world's first active communications relay satellite.

Financial Boost and Strategic Diversification

The deal provides Intuitive Machines with an immediate financial lift. The company, which reported £182 million ($228 million) in revenue last year, expects the acquisition to drive its annual income up to £680 million ($850 million) — enough to make it profitable for the first time.

'As a standalone company, Lanteris is a cash-generating business,' Intuitive Machines said in its announcement. 'As a combined company, Intuitive Machines expects to have adequate cash on hand for continued operations.'

Lanteris has been owned since 2023 by private equity firm Advent International, which bought the company from MDA Space. Its sale to Intuitive Machines underscores growing investor confidence in commercial space operators that are transitioning from specialised ventures into fully integrated aerospace contractors.

Analysts say the move could position Intuitive Machines alongside major space primes like Northrop Grumman, Lockheed Martin, and Airbus, while still maintaining its startup agility. The acquisition also diversifies the firm's portfolio amid rising uncertainty around federal contracts and shifting NASA priorities.

Building a Multi-Domain Future

Under the terms of the acquisition, Lanteris Space Systems will initially operate as a subsidiary before being fully integrated under the Intuitive Machines brand.

Lanteris currently has contracts to build dozens of satellites, including several high-value geostationary platforms that support global television broadcasting and government communications.

'The addition of Lanteris gives us access to a world-class manufacturing capability and an extraordinary engineering team,' Altemus said. 'It's a perfect complement to our lunar programme and our vision for sustained presence beyond Earth orbit.'

With over 300 satellites built in its seven-decade history, Lanteris brings both pedigree and infrastructure to the deal. Its manufacturing facility in Palo Alto is among the most advanced satellite production sites in the United States.

The acquisition is expected to strengthen Intuitive Machines' bid for upcoming US government and commercial contracts, including missions for deep-space communications, Earth observation, and defence reconnaissance.