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IonQ to Acquire Oxford Ionics for $1.075 Billion to Expand Quantum Capabilities

IonQ will merge its quantum stack with Oxford Ionics’ chip-based ion-trap technology to fast-track systems scaling to millions of qubits by 2030.

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Overview

  • IonQ will pay $1.065 billion in stock and $10 million in cash for Oxford Ionics, with closing expected in the second half of 2025 pending customary conditions.
  • The combined roadmap targets systems with 256 physical qubits by 2026, over 10,000 by 2027, and 2 million physical qubits alongside 80,000 logical qubits by 2030.
  • Oxford Ionics founders Dr. Chris Ballance and Dr. Tom Harty will join IonQ, which plans to expand its Oxford workforce and uphold government partnerships in both the UK and US.
  • Both companies were selected for DARPA’s Quantum Benchmarking Initiative and have demonstrated hybrid quantum-classical workflows with partners such as Amazon, NVIDIA and AstraZeneca.
  • According to Boston Consulting Group, the quantum computing market could generate up to $850 billion in global economic value by 2040.