IonQ has completed its previously announced $1.07bn acquisition of Oxford Ionics, a quantum computing company based in the UK.

The consideration involves $1.06bn in IonQ common stock and approximately $10m in cash. IonQ is currently listed on the New York Stock Exchange.

Through the acquisition, IonQ aims to accelerate its advancements in quantum computing systems and expand its reach across global markets. The deal was announced in June 2025.

IonQ intends to combine its quantum computing and networking capabilities with Oxford Ionics’ ion-trap technology, created using standard semiconductor chips.

This integration is expected to enhance quantum computer performance by increasing power and scalability, thus improving problem-solving capabilities.

Both companies aim to leverage each other’s technological expertise and IonQ’s global presence.

The combined entity plans to develop systems capable of using 256 physical qubits with an accuracy of 99.99% by 2026. The enlarged IonQ also aims to expand to over 10,000 physical qubits with logical accuracies reaching 99.99999% by 2027.

By 2030, the goal is to achieve two million physical qubits with logical accuracies surpassing 99.9999999999%.

Oxford Ionics co-founder and CEO Chris Balance said: “Together, we’ll continue pushing the boundaries of what’s possible to deliver practical quantum solutions to real-world challenges.

“We’re confident that our shared vision of quantum computing will not only be commercially impactful for customers worldwide in the near term, but transformative for society in the long term.”

Oxford Ionics brings a team of scientists and engineers, along with patented innovations, to integrate with IonQ’s existing technology stack. The acquisition also provides IonQ with a UK operational base for potential partnerships with universities and research institutions.

IonQ chair and CEO Niccolo de Masi said: “The acquisition of Oxford Ionics marks a pivotal step for IonQ as we continue to advance more powerful and scalable quantum systems, with unit economics that will underpin standardisation on our ecosystem.

“Oxford Ionics’ talented team and intellectual property strengthen our technology and accelerate our roadmap toward fault-tolerant quantum computing and broad quantum advantage.”

IonQ’s previously executed deals include buying a majority stake in ID Quantique and acquisitions of Qubitekk, Capella Space, and Lightsynq Technologies.