Street Calls of the Week
COLLEGE PARK, Md. - IonQ (NYSE:IONQ), whose stock has surged an impressive 666% over the past year and currently trades near its 52-week high of $62.85, announced Wednesday it has completed its acquisition of UK-based quantum computing company Oxford Ionics, strengthening its technology portfolio and establishing a foothold in the United Kingdom. According to InvestingPro data, the company has grown to an $18.53 billion market capitalization, reflecting strong investor confidence in its expansion strategy.
The acquisition brings Oxford Ionics’ team of scientists and engineers to IonQ, along with patented trapped ion quantum system innovations that complement IonQ’s existing technology stack. The deal provides IonQ with a UK base for future collaborations with universities, research institutions, and public-sector partners. With a healthy current ratio of 7.76 and moderate debt levels, InvestingPro analysis shows IonQ maintains a strong financial position to support its expansion initiatives.
"Oxford Ionics’ talented team and intellectual property strengthen our technology and accelerate our roadmap toward fault tolerant quantum computing," said Niccolo de Masi, Chairman and CEO of IonQ, according to the company’s press release.
IonQ plans to integrate Oxford Ionics’ ion trap technology, which is manufactured using standard semiconductor chips, with its quantum systems to develop high-fidelity quantum architectures for both computing and networking applications.
Dr. Chris Ballance, Co-founder and CEO of Oxford Ionics, stated that together the companies will "continue pushing the boundaries of what’s possible to deliver practical quantum solutions to real-world challenges."
This acquisition follows IonQ’s recent strategic moves, including securing a majority stake in ID Quantique and acquiring Qubitekk, Capella Space, and Lightsynq Technologies.
IonQ’s current generation quantum computers, IonQ Forte and IonQ Forte Enterprise, are available through major cloud providers. The company aims to deliver quantum computers with 2 million qubits by 2030 to advance innovation across industries including drug discovery, materials science, and financial modeling.
Financial terms of the acquisition were not disclosed in the company statement. However, IonQ has demonstrated robust revenue growth of 67.83% in the last twelve months, though InvestingPro analysis indicates the stock may be overvalued at current levels. For deeper insights into IonQ’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, covering detailed analysis of this rapidly evolving quantum computing leader.
In other recent news, IonQ has secured regulatory approval from the UK Investment Security Unit for its acquisition of Oxford Ionics, marking a significant milestone in the company’s expansion efforts. This approval satisfies all conditions for the deal, allowing the transaction to close soon. Following this development, several analyst firms have adjusted their price targets for IonQ. Craig-Hallum raised its price target to $65, maintaining a Buy rating, after describing IonQ’s recent analyst event as a "coming-out party." Cantor Fitzgerald increased its price target to $60, citing IonQ’s strategic roadmap presented at the Analyst Day. Needham also raised its price target to $80, highlighting the company’s ambitious technology roadmap, which includes plans to deliver a system with 2,000,000 physical qubits and 80,000 logical qubits by 2030. These adjustments reflect growing confidence in IonQ’s future prospects within the quantum computing industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.