IonQ, the world’s leading quantum company, and SkyWater Technology, the largest pure-play semiconductor foundry that is exclusively U.S.-based, announced that they have entered into a definitive agreement whereby IonQ will acquire SkyWater in a cash-and-stock transaction subject to a collar for $35.00 per share. The acquisition has been valued at a total equity value of approximately $1.8 billion.
The acquisition will enhance IonQ’s scaling capabilities for its quantum technologies by ensuring that it has access to the best onshore semiconductor design, fabrication, packaging, and manufacturing services. Through the acquisition, IonQ will be able to leverage the onshore capabilities of SkyWater to accelerate its development in its quantum computing, quantum networking, quantum security, and quantum sensing initiatives.
“This transformational acquisition enables IonQ to materially accelerate its quantum computing roadmap and secure its fully scalable supply chain domestically. With secure, U.S.-based design, packaging and chip fabrication – IonQ will benefit from vertical integration across our increasingly interlinked quantum computing, quantum networking, quantum security, and quantum sensing applications for land, sea, air, and space,” said Niccolo de Masi, IonQ Chairman and Chief Executive Officer. “We are confident that uniting our revolutionary quantum platform with SkyWater’s leading capabilities in parallel innovation, engineering, and manufacturing, will accelerate America’s ability to deploy quantum technology for mission critical applications. This historic transaction will significantly accelerate commercialization of our fully fault-tolerant quantum computers and benefit our nation’s broader quantum industry, enhancing our national security, economic strength, and technological superiority.”
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Mr. de Masi continued, “SkyWater is an unrivaled technology innovation partner, and with IonQ’s existing quantum sensing and quantum networking capabilities it will become the preeminent quantum merchant supplier under the continued leadership of Thomas Sonderman. Together, we remain committed to redefining what is possible for business, government, and society in the quantum era while unlocking long-term value for shareholders of both companies.”
“This combination marks a pivotal moment in SkyWater’s evolution,” said Thomas Sonderman, Chief Executive Officer of SkyWater Technology. “As the largest pure-play semiconductor foundry based in the U.S., SkyWater is already the partner of choice for advanced development and manufacturing services in both the public and private sectors as quantum computing and manufacturing increasingly align. Joining forces with IonQ will accelerate multiple engineering pathways for next-generation quantum chips, delivering speed, precision, and scale. Importantly, SkyWater remains fully committed to all of our semiconductor foundry customers and will continue as the quantum merchant supplier of choice with an even broader set of quantum sensing and quantum networking solutions for all of our customers and partners.”
Upon closing, the merger will create a unique, vertically integrated quantum platform company. This merger is also expected to further position IonQ as a trusted ecosystem partner and merchant supplier, especially in aerospace, defense, and other mission-critical sectors, while also allowing it to innovate in industries such as pharmaceuticals, financial services, cloud computing, and enterprise technology. By combining IonQ’s unique quantum architecture with SkyWater’s advanced onshore R&D capabilities, manufacturing infrastructure, and specialized development expertise, the new entity will provide an end-to-end quantum ecosystem.
Following the close of the transaction, SkyWater will continue to operate as a wholly owned subsidiary under the SkyWater name, serving its broad customer base across commercial and government sectors. Mr. Sonderman will lead the subsidiary and report to Mr. de Masi, ensuring continuity in delivering industry-leading Advanced Technology Services, Wafer Services, and Advanced Packaging Services, along with atomic clocks and quantum interconnect solutions, to all SkyWater customers.