Intuitive Machines to Acquire Lanteris in $800M Transformative Deal
The acquisition is set to quadruple Intuitive Machines' revenue and create a combined backlog of $920 million, forging a new prime contractor in the space sector.
Intuitive Machines (NASDAQ: LUNR), the company behind the historic Odysseus moon lander, announced a definitive agreement Tuesday to acquire Lanteris Space Systems for approximately $800 million, a transformative move designed to create a dominant end-to-end player in the commercial and government space sectors.
The deal, which consists of $450 million in cash and $350 million in LUNR common stock, is expected to catapult the combined company's annual revenue to over $850 million. This represents a nearly fourfold increase over Intuitive Machines' trailing twelve-month revenue of approximately $226 million, signaling a dramatic shift in scale and market position.
According to a company press release, the acquisition will also establish a formidable $920 million backlog, providing significant long-term revenue visibility. Lanteris, formerly known as Maxar Space Systems and owned by private equity firm Advent International, brings a long history of manufacturing and delivering reliable spacecraft for national security, civil, and commercial clients.
"This transaction marks our shift from a lunar-focused entity to a multi-domain space prime," said Steve Altemus, CEO of Intuitive Machines. The strategic rationale is clear: to combine Intuitive Machines' expertise in lunar access and space operations with Lanteris's robust manufacturing capabilities, creating a vertically integrated company that can manage missions from design to operation across Low Earth Orbit, Geostationary Orbit, and deep space.
The acquisition is the second major strategic move by the Houston-based company in recent months. In October, Intuitive Machines completed its $30 million acquisition of KinetX, a firm specializing in deep space navigation. This series of deals underscores an aggressive strategy to consolidate capabilities and compete for larger, more complex government and commercial contracts.
For Intuitive Machines, a company with a market capitalization of around $1.4 billion as of Monday's close, the Lanteris deal is a significant bet. While its lunar missions have garnered global attention, some investors have previously pointed to concerns around mission delays and operational execution. The integration of a large, established manufacturer like Lanteris will be a critical test of its ability to manage a much larger and more diverse enterprise.
The combined entity will be positioned to better compete on major upcoming programs, including work for the Space Development Agency, NASA's Artemis program, and other national security contracts. The deal is expected to close in the first quarter of 2026, pending customary regulatory approvals.
Prior to the announcement, shares of Intuitive Machines closed at $11.58 on Monday. Analysts covering the stock have an average price target of $15.43. The market's reaction to this transformative acquisition will be closely watched as investors weigh the enormous growth potential against the inherent risks of such a large-scale integration.