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IonQ Wins U.K. Approval for Oxford Ionics Deal as Analyst Day Sets Out Scaling Plan

The decision removes the final hurdle to closing Oxford Ionics, a deal IonQ says underpins its 2030 scaling targets.

Overview

  • The U.K. Investment Security Unit cleared IonQ’s acquisition of Oxford Ionics, fulfilling all conditions, and the company said it expects to close the transaction soon.
  • At its Sept. 12 analyst day in New York, IonQ outlined a roadmap targeting about 2 million physical qubits and 80,000 logical qubits by 2030 with Oxford Ionics’ chip-based ion-trap technology central to that plan.
  • IonQ highlighted an acquisition program that added Lightsynq and Capella in the June quarter and earlier brought in ID Quantique and Qubitekk to expand into quantum key distribution and networking.
  • The company launched IonQ Federal, named Robert Cardillo executive chairman of the unit, and reported more than $100 million in U.S. government contracts with AFRL, DARPA, Oak Ridge National Laboratory and ARLIS.
  • IonQ reported Q2 2025 revenue of $20.7 million, above its forecast, and guided Q3 revenue to $27 million.