IonQ announces another big acquisition
It is a more than $1 billion dollar transaction involving a company based in Oxford, England.
Just a week after hosting the inaugural Quantum Immersion Day: TN Edition held on June 2 at the University of Tennessee (UT) Research Park, IonQ announced another acquisition in a transaction valued at $1.075 billion.
The College Park, MD-based company is on a roll. Just two days after the June 2 event, it formally announced its acquisition of Lightsynq Technologies Inc., a Boston-based start-up specializing in photonic interconnects and quantum memory.
This acquisition crosses the Atlantic Ocean into Oxford, England where Oxford Ionics is based.
The transaction will bring together IonQ’s quantum compute, application, and networking stack with Oxford Ionics’ groundbreaking ion-trap technology manufactured on standard semiconductor chips. The combined technologies are expected to deliver innovative, reliable quantum computers that increase in power, scale, and problem-solving capabilities. Both companies expect to benefit from the other’s complementary technologies, deep expertise, and IonQ’s global resources and established customer base.
The combined company expects to build systems with 256 physical qubits at accuracies of 99.99 percent by 2026 and advance to over 10,000 physical qubits with logical accuracies of 99.99999 percent by 2027. The combined company anticipates extending its innovation by reaching 2 million physical qubits in its quantum computers by 2030, enabling logical qubit accuracies exceeding 99.9999999999 percent.
Like what you've read?
Forward to a friend!