Full-stack quantum platform and foundry company IonQ has signed a definitive agreement to acquire Zero Trust security specialist Elisity in an all-stock deal valued at up to $1.3bn.
The transaction will pair IonQ’s post-quantum cryptography (PQC) and quantum key distribution (QKD) offerings with Elisity’s enterprise security platform. This is expected to give IonQ a broader cybersecurity proposition designed to counter both existing and future quantum-era threats.
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Of the total deal value, up to $150m is structured as an earnout contingent on Elisity’s business performance.
Closing is anticipated in the fourth quarter of 2026, pending customary conditions and regulatory approval. The share count to be issued will be calculated using a 20-day volume-weighted average price of IonQ stock ahead of completion, with a per-share collar ranging from $33.07 to $49.61.
Established in 2019, Elisity operates across more than 100 global customer deployments and is claimed to have a growing presence among Fortune 500 organisations.
The company has reported a pattern of doubling both revenue and its customer base on an annual basis, with no churn recorded among deployed accounts. Its IdentityGraph technology draws on identity, asset and risk signals from native and partner sources to apply least-privilege access controls across users, devices, workloads and AI agents, enabling teams to model policies before enforcement.
IonQ said the deal would give it entry into the microsegmentation market, which it estimated at more than $10bn with a double-digit compound annual growth rate.
IonQ chairman and CEO Niccolo de Masi said: “With Elisity and its team as part of IonQ, we will be well positioned to help customers protect critical infrastructure and enterprise networks throughout the transition to the quantum era.
“As I said first, Q-Day is coming much faster than predicted. IonQ is offering its customers a vertically integrated full-stack quantum platform across quantum computing, networking, sensing and cybersecurity.
“Just as adding SkyWater Technology expanded IonQ’s capabilities in chip design, fabrication and packaging, Elisity will bring proven enterprise policy enforcement scale and deployment experience to our quantum security strategy and will give IonQ a strong growth platform to serve customers and create value for our shareholders.”
IonQ already operates quantum-safe national communications networks in Switzerland, Poland, Romania and Slovakia. In the second quarter of 2026, the company reported 40% year-over-year growth in multiproduct revenue.
Elisity CEO James Winebrenner, who will remain in his leadership role following the close, said: “Our customers need to prioritize post-quantum cryptography initiatives while securing existing assets to keep essential operations running.
“With IonQ, we will be optimally positioned to partner with them to modernise their crypto-agility programmes, accelerate post-quantum cryptography capabilities while advancing their holistic Zero Trust posture and deploy hybrid-cybersecurity solutions today that are prepared for the quantum future.”
IonQ noted that the urgency of quantum readiness has been underscored by recent White House executive orders accelerating the federal government’s migration to PQC standards.
The company and Elisity expect to pursue cross-selling opportunities and develop integrated offerings for both enterprise and government customers.
IonQ completed the acquisition of US-based semiconductor foundry SkyWater Technology in July 2026 in a transaction valued at approximately $1.8bn.
