IonQ to Acquire SkyWater, Forming the First Vertically Integrated Quantum Platform

IonQ will acquire SkyWater Technology in a cash-and-stock deal valued at about $1.8 billion, uniting IonQ’s quantum platform with SkyWater’s U.S.-based foundry to create the first vertically integrated full-stack quantum company. SkyWater will operate as a subsidiary; SkyWater shareholders receive $15 in cash and $20 in IonQ stock per share, with a collar. Closing is expected in Q2–Q3 2026 and the deal accelerates IonQ’s fault-tolerant quantum roadmap (targeting 200,000 qubit QPUs by 2028 and 8,000 high-fidelity logical qubits), strengthens a domestic supply chain for government and enterprise customers, and expands IonQ’s quantum sensing and networking capabilities. A joint webcast is planned.