IonQ Inc. (NYSE:IONQ) shares are on the rise this Tuesday following the company’s acquisition of U.S. chip manufacturer SkyWater Technology Inc. (NASDAQ:SKYT). The deal, valued at approximately $1.8 billion, was announced by SkyWater on Monday as part of IonQ’s efforts to enhance its quantum technology capabilities.
Deal Structure And Terms
IonQ agreed to buy SkyWater Technology for $35 per share. SkyWater shareholders will receive $15 in cash and $20 in IonQ stock for each share they own.
After closing, SkyWater Technology will own between 4.8% and 6.7% of IonQ. IonQ held $1.5 billion in cash and equivalents as of Sept. 30.
The transaction is expected to close in the second or third quarter of 2026, subject to shareholder and regulatory approvals.
The deal creates a vertically integrated quantum platform aimed at reducing production timelines and costs.
After closing, SkyWater will continue operating under its existing name as a wholly owned subsidiary, with CEO Thomas Sonderman leading the unit and reporting to IonQ Chairman and CEO Niccolo de Masi.
Analyst Take
JPMorgan analyst Peter Peng maintained a Neutral rating with a $47 price forecast on Monday.
“We believe the strategic rationale is sound, as the deal accelerates IonQ’s technology and product roadmap, provides strong vertical integration for its full-stack quantum platform, and enhances cost advantages,” Peng wrote.
The analyst noted the acquisition could reduce the 256-qubit chip cycle time from nine months to two months.
IonQ pre-announced that full-year 2025 revenue results came in at the high end or above its previously announced range of $106 million to $110 million.
The acquisition is expected to strengthen IonQ’s government and defense market presence, as SkyWater Technology holds DMEA Category 1 trusted accreditation.
IONQ Price Action: IonQ shares were up 3.06% at $44.69 at the time of publication on Tuesday, according to Benzinga Pro data.
Image via Shutterstock
Recent Comments