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COLLEGE PARK, Md. - Quantum computing company IonQ (NYSE:IONQ) announced Monday it has entered into a definitive agreement to acquire Skyloom Global, a provider of optical communications infrastructure for space and ground applications. The quantum computing firm, currently valued at $16.71 billion, has demonstrated impressive revenue growth of 113.07% over the last twelve months, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.
The acquisition aims to integrate Skyloom's optical networking technology with IonQ's quantum capabilities, potentially boosting data throughput by up to 500% and reducing latency from hours to under one hour for certain applications, according to the company's press release.
Skyloom, founded in 2017, specializes in Optical Communications Terminals (OCTs) for satellite-to-satellite and satellite-to-ground laser communications. The company has delivered nearly 90 terminals for Space Development Agency missions by 2025.
"This acquisition marks a pivotal acceleration for IonQ by adding high-bandwidth optical link capabilities to our global quantum platform," said Niccolo de Masi, Chairman and CEO of IonQ.
Following the acquisition, Skyloom CEO Marc Eisenberg will report to Frank Backes, President of Quantum Infrastructure at IonQ.
The deal follows IonQ's recent acquisitions of Qubitekk, Capella Space, Lightsynq, and a majority stake in ID Quantique, as the company builds its full-stack quantum-secure communications platform.
IonQ expects the transaction to close following standard regulatory approvals. Financial terms of the acquisition were not disclosed in the announcement.
The company stated this acquisition supports its technology roadmap, which includes plans to deliver quantum computers with 2 million qubits by 2030 for applications in various industries including drug discovery, materials science, and cybersecurity. Despite current revenue of $79.84 million, analysts anticipate continued sales growth, though InvestingPro indicates the company is not expected to be profitable this year. For investors seeking deeper insights, InvestingPro offers a comprehensive Pro Research Report on IonQ, one of 1,400+ US equities covered with detailed analysis and actionable intelligence.
In other recent news, IonQ has announced a strategic partnership with the University of Chicago to establish a center for quantum engineering and science on campus. This partnership marks the first deployment of a production-grade quantum computer and entanglement distribution quantum network at a university. Additionally, IonQ filed a prospectus supplement with the SEC to allow the resale of over two million shares by the University of Chicago, in line with a registration rights agreement. Meanwhile, Cantor Fitzgerald has raised its price target for IonQ to $70 from $60, maintaining an Overweight rating due to the company's potential to capture a significant portion of the quantum market by 2035. Furthermore, IonQ has been selected for Stage B of DARPA's Quantum Benchmarking Initiative, which focuses on developing a research and development roadmap for quantum computing. IonQ is also set to showcase its quantum computing advances at the SuperCompute 2025 conference in St. Louis. The company will participate in key events, including a plenary panel featuring its Vice President of Quantum Systems. These developments highlight IonQ's active role in advancing quantum computing technology and its strategic collaborations.
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