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IonQ (IONQ) investor relations material

IonQ M&A announcement summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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M&A announcement summary26 Jan, 2026

Deal rationale and strategic fit

  • Creates the only fully vertically integrated, full-stack U.S.-based quantum platform, spanning computing, networking, sensing, and security, and supporting national security and critical infrastructure.

  • Combines advanced quantum technology with secure, onshore semiconductor manufacturing, supporting mission-critical applications and a sovereign supply chain.

  • Accelerates the roadmap to fault-tolerant quantum computing by embedding secure access to a trusted foundry and enabling faster innovation cycles.

  • Enables end-to-end innovation, engineering, manufacturing, and deployment of quantum solutions, leveraging semiconductor engineering and advanced packaging.

  • SkyWater continues as a merchant supplier, expanding offerings to include quantum sensors and networking solutions.

Financial terms and conditions

  • Acquisition valued at $1.8 billion, with $15.00 in cash and $20.00 in stock per share, subject to a collar and cap, totaling approximately $1.8 billion equity value.

  • Purchase price represents a 38% premium to SkyWater's 30-day volume-weighted average price as of January 23, 2026.

  • Stock component is based on the acquirer's 20-day volume-weighted average price, with adjustments if above $60.13 or below $37.99 per share.

  • SkyWater shareholders will own between 4.4% and 6.7% of the combined company.

  • SkyWater will operate as a wholly-owned subsidiary, maintaining its merchant supplier business.

Synergies and expected cost savings

  • Integration reduces chip design-to-sample time from nine months to two months for the 256-qubit chip and accelerates the roadmap for 200,000-qubit and 2 million-qubit chips, pulling forward timelines by up to a year.

  • Minimizes unit economics and achieves best-in-class cost per physical qubit, enabling mass manufacturability and industry-leading costs at scale.

  • Enables parallel development and rapid learning across chip generations, compounding innovation and reducing costs.

  • Creates an end-to-end U.S. quantum supply chain, enhancing security and scalability.

  • Full product lifecycle under one roof expected to deliver industry-leading costs at scale.

How does SkyWater reduce wafer iteration times
SkyWater's merchant supplier strategy post-acquisition
DMEA Category 1 accreditation impact on IonQ Federal
Qubit roadmap acceleration timeline impact
Trusted foundry's market access implications
How does integration improve unit economics
Impact of vertical integration on cost per qubit
How does SkyWater enhance U.S. quantum security?
SkyWater's resource allocation for merchant customers
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Frequently asked questions

IonQ Inc develops and sells quantum computing systems and offers quantum computing services through cloud platforms. It focuses on building trapped-ion quantum computers for applications across industries such as finance, healthcare, and logistics. The company is headquartered in College Park, Maryland, and its shares are listed on the NYSE.

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