IonQ to buy SkyWater for $1.8 billion to expand hardware capabilities
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Niccolo de Masi, CEO and President of IonQ, Inc, rings the Closing Bell at the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2025. REUTERS/Brendan McDermid
Jan 26 (Reuters) - Quantum computing firm IonQ said on Monday it would buy chipmaker SkyWater Technology for about $1.8 billion, in a deal that would bring semiconductor manufacturing in-house and boost the development of its next-generation quantum processors.
The cash-and-stock deal will allow IonQ to secure its supply chain by taking control of its own chip production, ensuring a steady supply of advanced technology as it scales up its work supporting federal and defense sectors.
IonQ's shares rose about 4% in early trading, while SkyWater jumped nearly 8%.
By acquiring its own fabrication facility and securing embedded access to a trusted U.S. foundry, IonQ will be able to begin testing its planned 200,000-qubit chips in 2028, which is earlier than previously expected, the company said. In quantum computing, a qubit serves as the fundamental unit of information.
SkyWater, a U.S. semiconductor foundry with operations in Minnesota, Florida, and Texas, will use those facilities as quantum production hubs for IonQ, the companies said.
SkyWater's shareholders will receive $15 in cash and $20 in IonQ stock for each share of SkyWater, representing a premium of nearly 12% to SkyWater's last closing price.
The deal is expected to close in the second or third quarter of 2026, after which SkyWater will operate as a wholly owned subsidiary, remaining under the leadership of CEO Thomas Sonderman, who will report to IonQ CEO Niccolo de Masi.
The subsidiary will continue to provide its existing aerospace, defense, and commercial customers with wafer services, advanced packaging, and specialized components like atomic clocks.
IonQ also said it expects its full-year 2025 revenue to be at the high end or above its previously announced forecast of $106 million to $110 million.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Shailesh Kuber)
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