Intuitive Machines—known for its Moon landers—will become a military contractor

In a groundbreaking move, Intuitive Machines has revealed plans to acquire Lanteris Space Systems for $800 million, marking a significant leap for the company from a burgeoning startup to a key player in the space industry. This acquisition is particularly noteworthy as it represents a merger between a 'New Space' firm and a legacy 'Old Space' company, with Lanteris, previously known as Maxar Space Systems, boasting a history that stretches back to 1957. The strategic purchase will allow Intuitive Machines to broaden its portfolio beyond its established lunar missions, venturing into the realms of satellite manufacturing and comprehensive space services. Lanteris, which has been under the ownership of Advent International since 2023, is expected to bolster Intuitive Machines' capabilities and resources. The transaction is anticipated to finalize early next year, pending the necessary regulatory approvals. This acquisition is particularly crucial for Intuitive Machines' financial health; the company reported revenues of $228 million last year and projects that this merger will elevate its earnings to $850 million, paving the way for profitability. A spokesperson for Intuitive Machines noted, "Lanteris operates as a cash-generating business on its own. Together, we believe we will have sufficient financial resources to maintain operations and drive growth." Founded in 2013 by Kam Ghaffarian, along with former NASA engineers Stephen Altemus and Tim Crain, Houston-based Intuitive Machines has made a name for itself with its innovative robotic lunar landers. The company recently completed two successful Moon missions under NASA contracts, although both landers encountered challenges upon landing, prompting design modifications ahead of their next scheduled lunar endeavor in 2026.