IonQ has entered into a definitive agreement to acquire a controlling stake in ID Quantique (IDQ) in an all stock transaction. Alongside the deal for IDQ's team, product offerings, and quantum networking business, IonQ and South Korea-based telecommunications operator SK Telecom have signed a memorandum of understanding to collaborate on the future development of the AI and quantum industry. Per the agreement, SK Telecom and its investment arm, SK Square, will exchange their shares in IDQ for shares in IonQ. The move, SK Telecom, said, facilitates a closer business relationship with IonQ. SK Telecom purchased a stake in IDQ in 2018 via a $65 million investment. “This strategic transaction and the expertise of ID Quantique furthers IonQ’s role as a global leader in next generation secure communications,” said Peter Chapman, executive chair of IonQ. “And once finalized, we expect that our intended strategic partnership with SK Telecom, one of the most powerful technology companies in Asia, will significantly enhance the distribution of IonQ quantum technology, leading to many commercial and technical opportunities.” IonQ's acquisition of ID Quantique follows a rapid succession of announcements related to IonQ's business strategy and the development and commercialization of its quantum computing technology. Courtesy of IonQ. IDQ's products span quantum networking and quantum-safe communication, and include quantum key distribution, quantum random generators, and quantum detection systems. IDQ additionally commercializes high-performance single-photon detectors, which are key components to build quantum memories and scalable quantum computers. IDQ’s patent portfolio of nearly 300 patents and patent applications will bring the total count of granted and pending patents that IonQ owns or controls to nearly 900. IonQ expects to close the transaction within the next nine months, subject to the satisfaction of customary closing conditions. The acquisition of IDQ directly follows a series of recent announcements from IonQ in the quantum networking space. Last month, IonQ announced the completion of its acquisition of substantially all of the assets of Qubitekk, a quantum networking company in the U.S. IonQ also announced the close of two quantum networking contracts with the United States Air Force Research Lab (AFRL) in 2024, including the largest known 2024 U.S. Quantum Contract Award of $54.5 million to design, develop and deliver quantum networking technology as well as another $21.1 million award to establish free-space optical links from ground stations to drones. IonQ, in November 2024, also formed partnerships with Ansys and NKT Photonics. The agreements target the integration of quantum computing into the computer-aided engineering industry, and NKT's supply of next-generation laser systems for IonQ's trapped-ion quantum computers and networking equipment, respectively. In South Korea, IonQ earlier this year signed a memorandum of understanding with the Metropolitan Government of Busan, the second largest city in South Korea, to advance quantum technology. The company has previously announced customer contracts and strategic partnerships with Hyundai Motor Group and Sungkyunkwan University. IonQ announced yesterday the appointment of Niccolo de Masi as president and CEO, as well as the appointment of Gabrielled Toledano to its board of directors. de Masi has served on IonQ's board of directors since 2021, and has held a number of c-level positions at publicly traded companies, including the role of CEO of dMY Technology Group III, the special purpose acquisition company that took IonQ public via merger in 2021. Toledano has held senior roles at Tesla, Electronic Arts, Microsoft, Siebel Systems, and Oracle, and presently serves as CEO of Keystone Strategy.