IonQ Acquires Oxford Ionics for $1.07 Billion

IonQ, a Maryland-based quantum computing company, has announced the $1.07 billion acquisition of UK-based Oxford Ionics, merging IonQ's quantum hardware and software expertise with Oxford’s advanced quantum chip technology. Oxford Ionics is known for its breakthroughs in trapped ion qubit quantum computing, achieving world records for accuracy and promising to accelerate applications like drug discovery. The combined entity plans to deliver quantum systems with 256 qubits at 99.99% accuracy by 2026 and over 10,000 qubits by 2027, aiming for 2 million qubits by 2030. IonQ's stock has surged nearly 400% in the past year, while Oxford Ionics previously raised $53 million from notable investors. The acquisition highlights the rapidly growing quantum computing sector, which saw $1.94 billion in startup funding in 2024 and could generate up to $850 billion in global economic value by 2040. This deal marks a major consolidation in the quantum industry and sets ambitious targets for quantum hardware capabilities.