IonQ buys ID Quantique in quantum networking patent boost
IonQ is to acquire Swiss quantum networking pioneer ID Quantique has signed a strategic partnership with its majority owner, SK Telecom.
The company also unexpectedly replaced its chief executive with immediate effect.
The ID Quantique (IDQ) team, technology, and products will join IonQ portfolio along with 300 patents in quantum networking. This further strengthens the position of IonQ, which has more than 900 worldwide after the acquisition of US quantum networking pioneer Qubitekk.
IonQ was listed as the leading pureplay quantum company in terms of patents in a recent report, and this deal sees more patents moving out of Europe.
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IDQ, based in Geneva, has offices in Seoul, Vienna and Boston and has been developing quantum networking technology for 20 years with including quantum key distribution, quantum random generators and quantum detection systems, as well as deploying quantum-safe networks around the world.
It is developing the world’s smallest monolithically integrated Quantum Random Number Generator (QRNG) with Elmos Semiconductor in Germany.
“This strategic transaction and the expertise of ID Quantique furthers IonQ’s role as a global leader in next generation secure communications,” said Peter Chapman, Executive Chair of IonQ. “And once finalized, we expect that our intended strategic partnership with SK Telecom, one of the most powerful technology companies in Asia, will significantly enhance the distribution of IonQ quantum technology, leading to many commercial and technical opportunities.”
SK Telecom was the largest backer of IonQ and also has a pioneering history in quantum networking, having deployed the largest quantum network in South Korea.
“Quantum technology is not an option but an essential element for the advancement of AI,” said Ryu Young-sang, CEO of SK Telecom. “SKT will continue to make proactive investments and collaborations to become a leading company in the AI field.”
IDQ is part of Europe’s quantum communications infrastructure (EuroQCI) and also commercializes high-performance single-photon detectors which are key components to build quantum memories and scalable quantum computers.
“ID Quantique is excited to be joining the IonQ portfolio, to continue its journey providing quantum networking technology worldwide,” said Grégoire Ribordy, Co-Founder and former CEO of IDQ.
“IonQ has been a pioneer in the quantum industry, developing powerful computing systems combined with dedication to quantum networking–vital infrastructure underpinning the entire global economy. We have long admired IonQ’s work, and know that the combination of IDQ and IonQ will be powerful, accretive, and impactful worldwide.”
Ribordy has been replaced with immediate effect by Niccolo de Masi as President and Chief Executive Officer. Chapman will continue in the leadership role of IonQ’s Executive Chair.
Niccolo has served on IonQ’s board of directors since 2021 and was CEO of dMY Technology Group III, the special purpose acquisition company that took IonQ public via SPAC merger in 2021.
“Over the past five years, Niccolo has had a significant impact helping IonQ realize our vision of creating the world’s first pure-play public quantum computing company,” said Chapman. ”Because of his insightful contributions to our strategic direction and growth initiatives as a director of the company, we are thrilled to welcome Niccolo to the role of CEO as we look to accelerate our growth in the quantum era. I look forward to continuing our strong partnership and furthering the company’s success.”
IonQ anticipates closing the IQD acquisition in the next nine months. The value of the deal was not disclosed.
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