Intuitive Machines will acquire Lanteris Space Systems to expand as a "multi-domain" space company. Photo courtesy Intuitive Machines.

Houston-based aerospace company Intuitive Machines has agreed to buy satellite manufacturer Lanteris Space Systems for $800 million from private equity firm Advent International.

Intuitive Machines co-founder, president and CEO Steve Altemus said the combined revenue of his company and Palo Alto, California-based Lanteris exceeded $850 million as of Sept. 30, and their backlog of orders totaled $920 million.

Until recently, Lanteris operated as Maxar Space Systems. Its origins date back to 1957.

The deal—comprising $450 million in cash and $350 million in Class A shares of Intuitive Machines stock—is expected to close in the first quarter of 2026.

The acquisition “marks the moment Intuitive Machines transitions from a lunar company to a multi-domain space [company], setting the pace for how the industry’s next generation will operate,” Altemus said.

Altemus said the acquisition would enable Intuitive Machines to better compete for Earth orbit, lunar, Mars and deep space projects. Among the opportunities that would open up thanks to the Lanteris deal are the proposed Golden Dome missile defense system and a large lunar lander capable of carrying astronauts, he said.

“The new Intuitive Machines will combine rapid innovation and precision spacecraft production to meet the growing demand for responsive, high-reliability space infrastructure and services,” Altemus said.

Intuitive Machines, founded in 2013, develops lunar landers and provides aerospace services. In 2024, it became the first U.S. company to land a spacecraft on the moon in half a century.

Altemus said Intuitive Machines is already building three satellites for NASA’s near-space network, and it might upsize two more satellites now that it plans to buy Lanteris.

Aside from satellites, Lanteris is developing the power and propulsion element for NASA’s Gateway, a lunar orbiting command module that will support Artemis missions and deep space exploration.


Lanteris was a division of Maxar Technologies, which Advent and minority investor British Columbia Investment Management took private in a 2023 deal valued at $6.4 billion

.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

TMC launches new biotech partnership with Republic of Korea

international collaboration

Houston's Texas Medical Center has launched its new TMC Republic of Korea BioBridge.

The new partnership brings together the TMC with the Osong Medical Innovation Foundation, or KBIOHealth. The Biobridge aims to support the commercialization of Korean biotech and life science startups in the U.S., foster clinical research, and boost collaboration in the public, private and academic sectors.

Through the partnership, TMC will also develop a Global Innovators Launch Pad to foster U.S. market entry for international health care companies. Founders will be selected to participate in the 10-week program at the TMC Innovation Factory in Houston.

“Gene and cell therapies are driving biotech innovation, opening possibilities for treating diseases once thought untreatable," William McKeon, president and CEO of the Texas Medical Center, said in a news release. "Expanding biomanufacturing capacity is essential to delivering the next wave of these therapies, and partnerships with leading innovators will strengthen our efforts in Houston and internationally.”

McKeon officially signed the TMC Korea BioBridge Memorandum of Understanding with Myoung Su Lee, chairman of KBIOHealth, in South Korea in October.

"This collaboration marks a significant milestone for Korea’s biohealth ecosystem, creating a powerful bridge between Osong and Houston," Lee added in the release. "By combining KBIOHealth’s strength in research infrastructure and Korea’s biotech talent with TMC’s global network and accelerator platform, we aim to accelerate innovation and bring transformative solutions to patients worldwide.”

This is the seventh international strategic partnership for the TMC. It launched its first BioBridge with the Health Informatics Society of Australia in 2016. It launched its TMC Japan BioBridge, focused on advancing cancer treatments, last year. It also has BioBridge partnerships with the Netherlands, Ireland, Denmark and the United Kingdom.