IonQ (NYSE: IONQ), a College Park, MD-based quantum computing company, acquired Qubitekk, Inc., a Vista, CA-based quantum networking company.
The amount of the deal was not disclosed. IonQ anticipates closing the acquisition within the next six months, subject to the satisfaction of certain closing conditions.
The acquisition will contribute to near-term bookings and revenue opportunities, extending IonQ’s commercial leadership in quantum networking. As part of the transaction, Qubitekk’s executive team and employee base including physicists, engineers, software developers, and others will join IonQ to further drive quantum networking efforts. The Qubitekk team joining IonQ includes Co-Founder and CEO Stan Ellis, Co-Founder and CTO Dr. Duncan Earl, Chief Revenue Officer Corey McClelland, and President Keith Clark.
Led by CEO Stan Ellis, Qubitekk designs, builds, and integrates the hardware and software for quantum networks, precursors to the quantum-enabled internet. Its comprehensive entanglement distribution technology is at the core of the Bohr-IV Metro Quantum Network solution deployed at EPB and utilized in its Quantum Network Essentials product line and secure network solutions being developed for drones, satellite communications, and the electric grid.
Led by CEO and President Peter Chapman, IonQ specializes in quantum computing that delivers high-performance systems capable of solving commercial and research use cases. Its current generation quantum computer, IonQ Forte, is the latest in a line of systems, boasting 36 algorithmic qubits.
FinSMEs
07/11/2024