IonQ (NYSE: IONQ) has completed its acquisition of SkyWater Technology (NASDAQ: SKYT), the largest exclusively US-based semiconductor foundry, the company announced on July 31, creating what it describes as the only vertically integrated full-stack quantum platform company.
Under the terms of the deal, SkyWater shareholders receive $15.00 in cash and 0.4883 shares of IonQ common stock for each SkyWater share held at closing. The transaction, valued at around $1.8 billion, closed after receiving all required regulatory approvals, including a split Federal Trade Commission vote that allowed the deal to proceed without changes.
“Acquiring SkyWater crystallizes IonQ’s vision to serve as a technology leader, merchant supplier and ecosystem enabler across the entire quantum industry,” said Niccolo de Masi, Chairman and Chief Executive Officer of IonQ. “We are investing in capabilities from quantum foundry and advanced packaging to manufacturing and commercialization that the quantum ecosystem requires for future growth.”
“Joining the IonQ team marks a pivotal moment in SkyWater’s evolution,” said Thomas Sonderman, Chief Executive Officer of SkyWater Technology. “As the largest semiconductor foundry based in the US, SkyWater is already the partner of choice for advanced development and manufacturing services in both the public and private sectors as quantum computing shifts from research to manufacturing.”
Following the closing, SkyWater operates as a subsidiary under its existing name, with Sonderman leading the unit and reporting to de Masi. The combined company says the acquisition accelerates IonQ’s fault-tolerant quantum computing roadmap and enables secure end-to-end design, fabrication, and packaging of next-generation quantum chips for land, sea, air, and space applications.
SkyWater will continue to serve its existing customers as a US-based merchant semiconductor foundry, providing advanced technology, wafer, and packaging services as well as atomic clocks and quantum interconnects. Company executives say the vertical integration removes supply-chain bottlenecks for quantum hardware at a time when demand for quantum computing, networking, and sensing is accelerating across government and enterprise markets.
The combined company is expected to hold its second-quarter earnings call on August 5 after US markets close, with an investor day scheduled for September 8. The deal is among the largest consolidations in the quantum industry and positions IonQ to compete more directly with rivals as governments and enterprises increase spending on quantum technologies.
Sources: IonQ press release, citybiz, Bloomberg
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