IonQ has announced its acquisition of SkyWater Technology in a cash-and-stock deal valued at approximately $1.8bn, setting the stage for the creation of a vertically integrated full-stack quantum platform company.

SkyWater, a semiconductor foundry based in the US, will maintain its service to existing markets and incorporate IonQ’s quantum technologies into its offerings. The company plans to continue its involvement in US technology infrastructure with facilities in Minnesota, Florida, and Texas.

It will continue to serve aerospace, defence, and commercial markets. SkyWater will supply technology essentials to companies in fields such as AI and IoT and offer IonQ’s quantum sensors and networking solutions to its clientele and partners.

Under the agreement, shareholders of the Nasdaq-listed SkyWater will receive $35 per share, combining cash and IonQ stock, subject to certain conditions. This transaction is set to close in Q2 or Q3 2026, pending regulatory approvals and shareholder consent.

SkyWater CEO Thomas Sonderman said: “As the largest pure-play semiconductor foundry based in the US, SkyWater is already the partner of choice for advanced development and manufacturing services in both the public and private sectors as quantum computing and manufacturing increasingly align.

“Joining forces with IonQ will accelerate multiple engineering pathways for next-generation quantum chips, delivering speed, precision, and scale.

“Importantly, SkyWater remains fully committed to all of our semiconductor foundry customers and will continue as the quantum merchant supplier of choice with an even broader set of quantum sensing and quantum networking solutions for all of our customers and partners.”

Through the deal IonQ expects to advance its ambitions in fault-tolerant quantum computing, with SkyWater’s resources enhancing its manufacturing and innovation capabilities.

The combined entity seeks to fast-track testing of its large-scale quantum processors and bolster its position as a provider of quantum solutions for sectors including government, aerospace, and finance.

Furthermore, the acquisition will enhance IonQ’s Federal division by providing advanced quantum solutions to the federal and defence sectors.

IonQ aims to establish a comprehensive US quantum supply chain, from design to service upgrades, supporting Department of War initiatives like the Microelectronics Commons network.

IonQ chairman and CEO Niccolo de Masi said: “This transformational acquisition enables IonQ to materially accelerate its quantum computing roadmap and secure its fully scalable supply chain domestically.

“With secure, US-based design, packaging and chip fabrication – IonQ will benefit from vertical integration across our increasingly interlinked quantum computing, quantum networking, quantum security, and quantum sensing applications for land, sea, air, and space.”

Post-acquisition, SkyWater will function as a subsidiary, retaining its name and operational independence while reporting to IonQ leadership.

Both companies’ boards have approved the deal unanimously. SkyWater shareholders are projected to own between 4.4% and 6.7% of the new entity.

The acquisition aligns with IonQ’s strategy to enhance its market presence following previous acquisitions such as those of Oxford Ionics and Vector Atomic.

IonQ completed the $1.07bn acquisition of Oxford Ionics in September 2025. Through this acquisition, IonQ planned to expedite its advancements in quantum computing systems and expand its footprint across global markets.

The Vector Atomic deal, which was announced last September, closed the following month. Vector Atomic is a provider of quantum sensors for positioning, navigation, and timing (PNT) applications.

The acquisition of Vector Atomic has been expected to fast track IonQ’s foray into the quantum sensing market and bolster its full-stack quantum platform.