Oct 12 (Reuters) - Quantum computing company IonQ said on Monday it would buy cybersecurity firm Elisity in an all-stock deal valued at up to $1.3 billion, as it looks to expand its quantum security business.
IonQ said the acquisition would provide it with expanded channels to bring its quantum offerings to both enterprise and government customers, helping them deal with current threats and prepare for attacks from future quantum computers.
• Elisity, founded in 2019, has more than 100 customer deployments
worldwide and has doubled its revenue and customer base year-over-year, IonQ said
• The deal value includes up to $150 million in earn-outs tied to Elisity's performance, it added
• The number of IonQ shares to be issued will be calculated at a price between $33.07 and $49.61 per share
• "Q-Day is coming much faster than predicted," IonQ CEO Niccolo de Masi said, referring to the point when quantum computers could break widely used encryption
• Elisity CEO James Winebrenner will continue to lead the acquired business after the deal closes
• The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approval
• IonQ completed its acquisition of chipmaker SkyWater Technology earlier this year to bring semiconductor manufacturing in-house and boost the development of its next-generation quantum processors
(Reporting by Prathik Jayaprakash in Bengaluru; Editing by Jonathan Ananda)
