AeroMorning, November 12, 2025

On November 4, 2025, Intuitive Machines, Inc. (Nasdaq: LUNR), a leading space infrastructure and services company, announced a definitive agreement to acquire Lanteris Space Systems (formerly Maxar Space Systems) from Advent International. The transaction values Lanteris at approximately US$800 million, comprised of US$450 million in cash and US$350 million in Intuitive Machines Class A common stock, subject to customary adjustments.

The combined entity boasts revenue in excess of US$850 million, a positive adjusted-EBITDA, and a backlog of approximately US$920 million as of September 30, 2025. The deal is expected to close in Q1 2026, pending regulatory approvals and closing conditions.

With this acquisition, Intuitive Machines pivots from its prior identity as primarily a lunar company to become a vertically integrated next-generation space prime, capable of designing, manufacturing, delivering and operating missions across Earth orbit, the Moon, Mars and deep space. The company emphasises its ambition to expand from low Earth orbit (LEO) and geostationary orbit (GEO) into lunar, Martian and deep-space domains.

Steve Altemus, CEO of Intuitive Machines, said: “This strategic acquisition positions Intuitive Machines as a next generation space prime directly in the flow of multi-billion-dollar space programs.” Kam Ghaffarian, Chairman, added: “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.”

Lanteris, formerly Maxar, is recognised as a proven spacecraft manufacturer delivering reliable systems for defence, commercial and civil space customers. Under Intuitive Machines, its capabilities will support national-security space (including the Space Development Agency’s layered architecture) as well as Artemis lunar and Mars programmes.

The company noted recent Q3 2025 metrics: revenue of US$52.4 million, backlog of US$235.9 million, ending cash balance of US$622.0 million after issuance of convertible notes. The combined outlook remains subject to government shutdown risk and other uncertainties.

Source: Intuitive Machines press release, November 4 2025.