IonQ to acquire Elisity in deal worth up to $1.3 billion — Channel NewsAsia

Quantum computing company IonQ announced its intention to acquire cybersecurity company Elisity in a stock-paid deal that could be worth up to $1.3 billion. As Channel NewsAsia reports, the acquisition is expected to expand IonQ's business in quantum security.

Terms of the deal

The deal amount includes up to $150 million in additional payments that will depend on Elisity's performance. The number of IonQ shares to be issued as payment will be determined at a price between $33.07 and $49.61 per share.

The transaction is planned to be completed in the fourth quarter of 2026 after receiving regulatory approvals. Elisity CEO James Weinbrenner will continue to lead the acquired business after the deal closes.

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Expansion of the quantum business

IonQ said the deal will provide the company with additional channels for supplying its quantum solutions to corporate and government customers. According to the company, this is expected to help them counter existing cyberthreats and prepare for possible attacks using quantum computers.

Elisity was founded in 2019 and has more than 100 customer deployments worldwide. According to IonQ, its revenue and number of customers doubled over the year. Earlier this year, IonQ also completed the acquisition of chipmaker SkyWater Technology to develop the next generation of quantum processors.