The combination is expected to accelerate innovation in drug discovery, materials science, financial modeling, logistics, chemistry, aerospace, cybersecurity and defense
IonQ, a leader in quantum computing, and Oxford Ionics, a pioneer in high-fidelity quantum operations, announced a definitive agreement under which IonQ will acquire Oxford Ionics in a transaction valued at $1.075 billion. The deal includes $1.065 billion in IonQ common stock and approximately $10 million in cash, subject to customary closing adjustments.
Uniting Quantum Innovation for Unprecedented Scale
This strategic acquisition merges IonQ’s industry-leading quantum compute, application, and networking expertise with Oxford Ionics’ record-breaking ion-trap technology, which is manufactured on standard semiconductor chips. The combined strengths of both companies are expected to accelerate the development of high-performance, scalable quantum computers capable of solving complex real-world challenges.
By integrating Oxford Ionics’ breakthrough chip-based architecture, IonQ anticipates achieving:
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256 physical qubits at 99.99% accuracy by 2026
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Over 10,000 physical qubits with 99.99999% logical accuracy by 2027
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2 million physical qubits with logical qubit accuracy exceeding 99.9999999999% by 2030
Driving the Quantum Economy Forward
According to Boston Consulting Group, the quantum computing market could generate up to $850 billion in global economic value by 2040. This acquisition positions IonQ to capture a significant share of this rapidly expanding market by delivering fault-tolerant quantum systems with unparalleled reliability and commercial viability.
Leadership and Talent Retention
Oxford Ionics’ co-founders, Dr. Chris Ballance and Dr. Tom Harty, will continue leading quantum technology development at IonQ, reinforcing the UK’s position as a global quantum hub. The combined company plans to expand its workforce in Oxford, further strengthening the region’s role in advancing quantum innovation.
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Commitment to Government and Industry Partnerships
The acquisition ensures continuity for existing customer relationships, including collaborations with UK and US government agencies. IonQ remains committed to working with the UK National Quantum Computing Centre and the Quantum Missions program, supporting advancements in manufacturing, pharmaceuticals, and defense.
Executive Perspectives
Niccolo de Masi, CEO of IonQ, shared his vision for the combined entity: *“IonQ’s vision has always been to drive real-world impact in every era and year of quantum computing’s growth. Today’s announcement of our intention to acquire Oxford Ionics accelerates our mission to full fault-tolerant quantum computers with 2 million physical qubits and 80,000 logical qubits by 2030. We believe the advantages of our combined technologies will set a new standard within quantum computing and deliver superior value for our customers through market-leading enterprise applications.*
*We are pleased to welcome Oxford Ionics founders Dr. Chris Ballance and Dr. Tom Harty, and the rest of the Oxford Ionics team to IonQ. Their groundbreaking ion-trap-on-a-chip technology will accelerate IonQ’s commercial quantum computer miniaturization and global delivery. Our combined path to millions of qubits by 2030 will help ensure unit economics, scale, and power as quantum computing rapidly evolves.”*
Dr. Chris Ballance, CEO of Oxford Ionics, added: “We’re tremendously excited to work alongside the world-class quantum computing and networking teams at IonQ. Together, we intend to move faster than any other player in the industry to deliver the leading fault-tolerant quantum computers with transformative value for customers. At Oxford Ionics, we have not only pioneered the most accurate quantum platform on the market – we have also engineered a quantum chip capable of being manufactured in standard semiconductor fabs. We look forward to integrating this innovative technology to help accelerate IonQ’s quantum computing roadmap for customers in Europe and worldwide.”