Quantum computing firm (NYSE: IONQ) has announced the completion of its acquisition of a controlling stake in , a Swiss firm that develops quantum-safe networking and quantum detection systems, for an undisclosed price. Following the acquisition agreement in February, IonQ raised about $360 million via an 鈥渁t-the-market鈥� (ATM) equity offering program in March, selling about 16 million shares.
The College Park, Md.-based company said the acquisition adds IDQ鈥檚 quantum key distribution (QKD) systems, quantum random number generators (QRNGs), and single-photon detectors to IonQ鈥檚 portfolio. It also adds nearly 300 granted and pending patents, giving IonQ access to over 900 patents. Late last year, it acquired Qubitekk, which integrates quantum hardware and software.
Big Backers
鈥淭he acquisition of IDQ expands upon IonQ鈥檚 significant advantage in the quantum networking market and positions us as the global powerhouse for secure compute and communications,鈥� said Jordan Shapiro, president and general manager for Quantum Networking at IonQ. 鈥淏y combining IonQ鈥檚 high-performance quantum computing and networking capabilities with IDQ鈥檚 expertise in quantum-safe communications and quantum detection systems, we are well-positioned to deliver comprehensive quantum solutions that address our customers鈥� critical needs and serve as the foundations for the Quantum Internet.鈥�
IonQ was founded in 2015 by Chris Monroe of the University of Maryland and Jungsang Kim of Duke University with $2 million in seed funding from New Enterprise Associates (NEA), and licenses to technology developed by the two at their respective universities. The company has since raised $20 million more from Google鈥檚 venture arm GV, Amazon Web Services and NEA, and built two quantum computers. Its other investors include Samsung and Mubadala, the sovereign wealth fund of Abu Dhabi. IonQ completed an initial public offering in 2021.
IonQ is led by CEO , a former JPMorgan and Siemens executive. He earned Physics degrees from Cambridge University, where he specialized in quantum mechanics and next-generation electron beam lithography.
鈥淭his acquisition marks a pivotal moment for the future of quantum networks,” said Gr茅goire Ribordy, co-founder and CEO of IDQ. 鈥淏y joining IonQ, we鈥檙e combining decades of innovation in quantum-safe security and quantum detection systems with world-leading quantum computing capabilities to support our customers globally.鈥�
Govt. Partnerships
IonQ has two quantum networking contracts with the U.S. Air Force Research Laboratory (AFRL), and another with the Applied Research Laboratory for Intelligence and Security (ARLIS) to build and install quantum network infrastructure. Most recently, IonQ signed a $22 million deal with EPB, an energy and communications company in Chattanooga, Tenn., to establish the first quantum computing and networking hub in the United States.
The company says its technologies have been deployed at national quantum-safe networks projects in Singapore and South Korea. In addition, it has international initiatives within the European Union鈥檚 quantum communications infrastructure. IonQ鈥檚 quantum technologies are available via the cloud in partnerships with Microsoft and Amazon Web Services.
Over the past year, IonQ has been featured in Newsweek鈥檚 2025 Excellence Index 1000, Forbes鈥� 2025 Most Successful Mid-Cap Companies list, and Built In鈥檚 2025 100 Best Midsize Places to Work in Washington, D.C. and Seattle, respectively.
