IonQ buys quantum networking startup
US quantum processor developer IonQ is to acquire the operating assets of quantum networking startup Qubitekk.
As part of the transaction, the Qubitekk team in California will join IonQ to give the company more of the hardware stack for quantum computing. Quibitekk had raised $2m in funding and the deal is expected to close in the next six months.
Quantum networks are expected to become essential infrastructure, enabling critical applications especially in the defence, finance, and energy sectors. The technology enables multiple nodes to communicate via entangled qubits, offering ultra-secure communications, precise timing synchronization, a foundation for distributed quantum computing, and a transport layer for quantum sensing.
Qubitekk designed and deployed a commercially available quantum network in Chattanooga Tennessee, the EPB Quantum Network.
- Quantum datacentre in Switzerland
- Generative AI on a quantum computer
- Long distance quantum networking
IonQ’s trapped ion architecture plans to use photonic interconnects to link multiple quantum computers together, creating a more powerful cluster.
“Our acquisition of Qubitekk will mark a significant step in our expansion into the quantum networking market, where IonQ will be a clear leader in both quantum networking and quantum computing,” said Peter Chapman, President and CEO of IonQ. “The combination will allow us to continue our momentum in quantum networking. Quantum networking and quantum computing are highly synergistic and I expect that quantum networking could be the first division to be cash flow positive.”
The Qubitekk team joining IonQ includes Co-Founder and CEO Stan Ellis, Co-Founder and CTO Dr. Duncan Earl, Chief Revenue Officer Corey McClelland, and President Keith Clark.
The deal will also significantly expand the company’s quantum networking expertise and technology portfolio with 118 US and international patents in the areas of quantum networking hardware and quantum network security and protection.
“Qubitekk is thrilled to be joining IonQ to capitalize on our early advantage in the quantum networking space,” said Stan Ellis, Co-Founder and CEO of Qubitekk. “We have admired IonQ as the pioneering quantum company, with powerful computing systems and a demonstrated commitment to quantum networking as critical infrastructure. Uniting Qubitekk with IonQ will allow us to pursue the quantum-enabled internet as a near-term reality.”
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