IonQ, a provider of quantum computing technology, has entered into a definitive agreement for the acquisition of the complete operating assets of Qubitekk.
A company specialising in quantum networking, Qubitekk is based in Vista, California.
The transaction is expected to enhance IonQ’s customer base and quantum networking capabilities.
Through the acquisition of Qubitekk, the company plans to bolster its quantum networking expertise and technology portfolio, adding 118 US and international patents in the areas of quantum networking hardware and quantum network security and protection.
Following the deal closing, Qubitekk’s team, including co-founder and CEO Stan Ellis, co-founder and CTO Dr Duncan Earl, chief revenue officer Corey McClelland, and president Keith Clark, will join IonQ.
The company anticipates that the Qubitekk acquisition will contribute to near-term bookings and revenue opportunities, reinforcing its commercial leadership in quantum networking.
Subject to meeting necesary conditions, the deal is expected to close within the next six months.
IonQ president and CEO Peter Chapman said: “Our acquisition of Qubitekk will mark a significant step in IonQ’s expansion into the quantum networking market, where IonQ will be a clear leader in both quantum networking and quantum computing.
“The combination of Qubitekk and IonQ will allow us to continue our momentum in quantum networking. Quantum networking and quantum computing are highly synergistic for IonQ. I expect that the quantum networking part of IonQ could be the first division to be cash flow positive.”
This deal signing follows a series of quantum networking milestones for IonQ.
In September 2024, the company announced a $54.5m contract with the US Air Force Research Lab (AFRL) to develop quantum networking technology.
Additionally, the company recently demonstrated remote ion-ion entanglement to scale quantum computing across multiple processors.
Earlier in 2024, IonQ was selected by the Applied Research Laboratory for Intelligence and Security (ARLIS) for a contract to design a networked system for blind quantum computing, which allows for processing without revealing the information to the quantum computer.
“IonQ to expand quantum networking with Qubitekk acquisition” was originally created and published by Verdict, a GlobalData owned brand.
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