The acquisition will help Intuitive Machines boost its capabilities in managing satellite constellations and deep space navigation.
HOUSTON — A local space company that went public in 2023 is making its first acquisition.
Houston-based Intuitive Machines Inc. (Nasdaq: LUNR) has reached an agreement to acquire Tempe, Arizona-based KinetX Inc. to boost its capabilities in managing satellite constellations and deep space navigation.
The deal’s base value is $30 million, subject to customary post-closing adjustments for working capital, cash, indebtedness and transaction expenses, according to a Securities and Exchange Commission filling.
The acquisition is expected to close by the end of 2025, subject to customary closing conditions, Intuitive Machines said in a press release.
During the company’s second-quarter earnings call on Aug. 7, IM CEO and co-founder Stephen Altemus said the KinetX deal continues Intuitive Machines’ growth in its manufacturing operations.
This story came to us through our partnership with the Houston Business Journal. Keep up with the latest Houston business headlines here.