D-Wave Quantum Inc., the leader globally in the business of quantum computing systems, software, and services, has announced the successful closing of the acquisition of Quantum Circuits Inc., a company that specializes in the development of error-corrected gate-model quantum computers via superconducting circuits. This is the latest move being undertaken by D-Wave Quantum Inc., considering the fact that they are the only company worldwide providing solutions for annealing quantum computers.
The acquisition accelerates D-Wave’s roadmap for bringing scalable, error-corrected gate-model systems to market, complementing the company’s commercially deployed Advantage2™ annealing quantum systems. This dual-platform capability is expected to broaden the addressable use cases for quantum technology, while significantly shortening the timeline to commercially viable universal quantum computing.
Quantum Circuits contributes industry-leading dual-rail qubit technology that simplifies and enhances error correction a key requirement for achieving practical, fault-tolerant gate-model quantum computers. Their approach combines the speed of superconducting qubits with high fidelity reminiscent of ion trap and neutral atom systems, representing a meaningful breakthrough in the quantum computing sector.
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Dr. Alan Baratz, CEO of D-Wave, emphasized the strategic value of the combination, stating: “The acquisition of Quantum Circuits marks a watershed moment that firmly establishes D-Wave as the world’s leading quantum computing company. By uniquely delivering both best-in-class annealing and gate-model technologies, we are setting the pace for the entire industry. This dual-platform approach will significantly expand the addressable use cases for our customers, with the potential to deliver profound impact across businesses, the scientific community, and governments worldwide.”
Dr. Rob Schoelkopf, co-founder of Quantum Circuits and now Chief Scientist at D-Wave, commented on the combined company’s advantage: “The combination of Quantum Circuits and D-Wave gives us a decisive advantage in gate-model quantum computing, by leveraging D-Wave’s experience with scaling and cryogenic control with our hardware-efficient approach to quantum error correction.”
As part of the transition, industry advisors and legal representatives supported D-Wave to finalize the deal. Centerview Partners served as D-Wave’s exclusive financial advisor, with Paul, Weiss, Rifkind, Wharton & Garrison LLP serving as legal counsel.