IonQ Extends Acquisition Spree with Plans to Buy Oxford Ionics
IonQ has entered into a definitive agreement to acquire fellow trapped-ion quantum computing technology company Oxford Ionics in a cash and stock deal valued at over $1.08 billion. The deal will bring together IonQ’s quantum compute, application, and networking stack with Oxford Ionics’ ion-trap technology manufactured on standard semiconductor chips.
According to an acquisition announcement, the combined company expects to build systems with 256 physical qubits at accuracies of 99.99% by 2026 and advance to over 10,000 physical qubits with logical accuracies of 99.99999% by 2027. It further anticipates reaching 2 million physical qubits in its quantum computers by 2030, enabling logical qubit accuracies exceeding 99.9999999999%.
The combined entity plans to expand its workforce in Oxford, England. Per the deal, Oxford Ionics founders Chris Ballance and Tom Harty are expected to remain with IonQ.
The acquisition is the latest in a series of purchases by IonQ over the last seven months. In identifying quantum networking as a priority focus last month, IonQ entered into agreements to acquire quantum interconnect developer Lightsynq Technologies and Capella Space, a provider of space-based sensing and communications. Earlier this year, the company acquired ID Quantique, a developer of technologies that span quantum networking and quantum-safe communication, as well as high-performance single-photon detectors used for quantum memories and quantum computers. IonQ acquired Qubittek last year, adding quantum networking hardware and security capabilities.
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