IonQ, the world’s leading quantum company, has announced its acquisition of SkyWater Technology for a total equity value of approximately $1.8 billion. This acquisition is expected to significantly accelerate IonQ’s quantum computing roadmap.
The acquisition will enable IonQ to accelerate its fault-tolerant quantum computing roadmap, with the expectation of starting functional testing of 200,000 qubit QPUs in 2028, which will enable over 8,000 ultra-high fidelity logical qubits. This will position IonQ as a quantum partner for the U.S. government, allies, and partners.
SkyWater's CEO, Thomas Sonderman, has expressed that the combination with IonQ will accelerate multiple engineering pathways for next-generation quantum chips, delivering speed, precision, and scale. The acquisition will create the first of its kind, vertically integrated quantum platform company.
SkyWater will continue to serve customers as a pure-play semiconductor foundry and merchant supplier, maintaining its commitment to its current aerospace and defense and commercial markets. The company will also be able to offer IonQ’s industry-leading quantum sensors and quantum networking solutions to its customers and partners.
The transaction details include SkyWater shareholders receiving $15.00 in cash and $20.00 in shares of IonQ common stock, subject to a collar, for each share of SkyWater common stock held at the close of the transaction. SkyWater shareholders will own between 4.4% and 6.7% of the combined company under the collar.
The acquisition is expected to close in the second or third quarter of 2026, subject to approval by SkyWater shareholders, receipt of required regulatory approvals, and satisfaction of other customary closing conditions.
In terms of financial outlook, IonQ expects to deliver full year 2025 revenue results at the high end or above its previously announced range of $106 million to $110 million.
The acquisition will not only significantly accelerate IonQ’s quantum computing roadmap but also strengthen its position as a trusted government partner with DMEA category 1 trusted accreditation. Moreover, it will enable SkyWater to continue serving as a semiconductor foundry and merchant supplier, while bringing together highly talented engineering teams to advance innovation and broaden reach. Additionally, the acquisition will maintain a strong balance sheet to facilitate continued growth for IonQ.
The joint webcast to discuss the transaction in greater detail is scheduled to be held today at 8:30 a.m. ET.
The market has reacted to these announcements by moving the company's shares 6.81% to a price of $50.80. For the full picture, make sure to review IonQ's 8-K report.
