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5d ago

UK Clears IonQ’s $1 Billion Oxford Ionics Deal as Shares Hit New High

Regulatory clearance removes the last hurdle to closing, enabling IonQ to fold in Oxford’s chip‑based ion‑trap technology.

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Overview

  • IonQ said the United Kingdom’s Investment Security Unit approved its planned acquisition of Oxford Ionics, satisfying regulatory requirements.
  • The stock jumped roughly 18% on Friday, touching an intraday high of $56.07 and closing at $55.61 to mark a new record level.
  • The company said it expects to complete the transaction in the near term following the UK decision.
  • The purchase will be a mix of cash and stock, with the share component set using IonQ’s 20‑day pre‑close trading price, and Oxford Ionics founders Chris Balance and Tom Harty are slated to join IonQ after closing.
  • CEO Peter Chapman said the combined team targets next‑generation chips with about 10,000 qubits within two years, framing the goal as outclassing today’s top supercomputers.