IonQ, a leading quantum computing company, has announced its acquisition of SkyWater Technology, a U.S.-based semiconductor foundry, in a cash-and-stock transaction valued at approximately $1.8 billion. The acquisition is expected to significantly accelerate IonQ's quantum computing roadmap and establish the company as the only vertically integrated full-stack quantum platform company.
IonQ's roadmap to fault-tolerant quantum computing will be accelerated through the acquisition of SkyWater, enabling the company to start functional testing of its 200,000 qubit qubits in 2028 and accelerating its 2,000,000 qubit chip by up to a year. The acquisition will also position IonQ as a core quantum computing, quantum networking, quantum security, and quantum sensing provider for the U.S. government, allies, and partners.
Furthermore, SkyWater will continue to serve its customers as a pure-play semiconductor foundry and merchant supplier, while also providing IonQ with access to trusted U.S. foundry capabilities. The transaction will allow IonQ to maintain ample financial flexibility to continue accelerating quantum commercialization, as well as strengthen its position as a trusted government partner with DMEA category 1 trusted accreditation.
Under the terms of the agreement, SkyWater shareholders will receive $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. This represents a 38.0% premium to the 30-day volume-weighted average price of SkyWater shares as of January 23, 2026.
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. Following the close of the transaction, SkyWater will operate as a wholly owned subsidiary under the SkyWater name and maintain its headquarters in Bloomington, Minnesota.
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 when it reports its fourth quarter and full-year 2025 earnings results next month.
The joint webcast to discuss the transaction in greater detail is scheduled for today at 8:30 a.m. ET.
Upon completion of the acquisition, the combined company will be uniquely positioned to deliver innovative breakthroughs for customers across industries and maintain a strong balance sheet to facilitate continued growth. Following these announcements, the company's shares moved 3.34%, and are now trading at a price of $33.10. If you want to know more, read the company's complete 8-K report here.
