IonQ Inc. has announced the acquisition of Oxford Ionics Ltd, a quantum computing chip developer, for $1.075 billion, to be financed through stock and cash.
Both IonQ and Oxford Ionics create quantum chips using a trapped ion design with ytterbium qubits, but differ in the method of programming the qubits.
Oxford Ionics' technology offers scalability benefits over laser-based approaches and can be mass-produced using standard semiconductor manufacturing processes.
IonQ plans to utilize Oxford Ionics' technology to enhance its quantum chips, aiming to introduce systems with higher qubit counts in the coming years.