IonQ Announces Agreement to Acquire Oxford Ionics, Accelerating Path to Pioneering …

🗝️ Key Points

• IonQ (IONQ, Financial) to acquire Oxford Ionics in a transaction valued at $1.075 billion.
• The deal is poised to expedite advancements in various scientific fields, including drug discovery and cybersecurity.
• The acquisition aims to achieve quantum computers with 2 million physical qubits by 2030.IonQ (IONQ), a leader in the quantum computing sector, has announced a definitive agreement to acquire Oxford Ionics.

• IonQ (IONQ, Financial) to acquire Oxford Ionics in a transaction valued at $1.075 billion.
• The deal is poised to expedite advancements in various scientific fields, including drug discovery and cybersecurity.
• The acquisition aims to achieve quantum computers with 2 million physical qubits by 2030.

IonQ (IONQ), a leader in the quantum computing sector, has announced a definitive agreement to acquire Oxford Ionics. The transaction is valued at $1.075 billion, comprising $1.065 billion in IonQ shares and approximately $10 million in cash, contingent upon customary closing adjustments and expenses. This strategic acquisition is expected to bolster the combined entity’s pursuit of delivering the world’s most powerful quantum computers by merging IonQ’s quantum compute and networking stack with Oxford Ionics’ groundbreaking ion-trap technology.

The collaboration is expected to accelerate innovation across diverse sectors, such as drug discovery, materials science, and cybersecurity, by exploiting the complementary technologies and expertise of both companies. The new entity aims to create systems with 256 physical qubits at 99.99% accuracy by 2026, advancing to over 10,000 physical qubits with logical accuracies of 99.99999% by 2027. By 2030, they anticipate extending their innovation to reach 2 million physical qubits, targeting logical qubit accuracies of 99.9999999999%.

Oxford Ionics, renowned for holding the world records in quantum operations fidelity, will integrate its team into IonQ’s framework. Founders Dr. Chris Ballance and Dr. Tom Harty will continue their pioneering work in the UK post-acquisition. This merger further aligns with global strategic cooperation between the US and the UK, promoting next-generation technology development. The deal is subject to customary closing conditions, and is anticipated to close in 2025.

The quantum computing market is projected to create up to $850 billion in global economic value by 2040, positioning IonQ and Oxford Ionics to significantly contribute to this burgeoning industry. The combined expertise and resources are expected to pave the way for substantial revenue growth opportunities through the creation of disruptive quantum applications.

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