Rendering of the Tranche 1 Tracking Layer satellites. Photo: Lanteris

Intuitive Machines has moved to acquire satellite manufacturer Lanteris Space Systems, saying the acquisition makes the company into a vertically integrated, next-generation space prime.

The deal is worth $800 million — $450 million in cash and $350 million in Intuitive Machines stock, subject to adjustment. The transaction is subject to approval and subject to close in the first quarter of 2026. 

Lanteris Space Systems, formerly Maxar Space Systems, is owned by Advent International. The private equity firm purchased Maxar in 2023 — including the spacecraft business and imagery and sensing business — for $6.4 billion and $2.4 billion in debt. Both companies were recently rebranded and Maxar Intelligence is now Vantor. 

Intuitive Machines is particularly focused on commercializing lunar access in terms of delivery services, data transmission, and infrastructure as a service. It is publicly traded after a special purpose acquisition company (SPAC) merger in 2023. The company deployed the IM-1 lunar lander in 2024 and has been selected to provide NASA with a lunar satellite constellation to provide communication and navigation services for Artemis activities.

Intuitive Machines CEO Steve Altemus told investors on Tuesday that the acquisition marks an evolution in the company to being a vertically integrated space prime for national security, civil and commercial customer missions. 

“We believe this acquisition will strengthen the company’s position to prime future national security space, including Golden Dome and Space Development Agency’s, layered architecture; civil space, such as Artemis, LTVs [Lunar Terrain Vehicle] and Mars data relay; and commercial space programs,” Altemus said. 

Intuitive Machines plans to integrate Lanteris satellite production into its existing business, which Altemus said can expand its Lunar Data Relay constellation under NASA’s Near Space Network Services contract, and commercializing NASA’s Tracking and Data Relay Satellite System (TDRS). 

“We are our own customer, in some sense, for our satellites,” Altemus said, applauding Lanteris reliability of deploying more than 300 spacecraft over more than 65 years. 

“We can do use the manufacturing and production and the reliability that Lanteris brings to the table to feed our data networks out to cislunar space, and then thinking about how we might replace the aging TDRS service for the U.S. government — and then out to Mars in terms of Mars data relay,” he said.

In the national security arena, Lanteris is a subcontractor for Low-Earth Orbit (LEO) buses for L3Harris SDA Tranche 1 and Tranche 2 awards, after the company invested in its 300-class bus. 

Intuitive Machines said the combined company has revenue of more than $850 million with positive adjusted EBITDA and $920 million in backlog as of the end of September. 

It also reported that for the 12 months that ended Sept. 30, 2025, Lanteris revenue was approximately $630 million, with a backlog of $685 million. Its business is roughly 25% defense, 25% civil, and 50% commercial, Altemus said.