IonQ Brings Chip Manufacturing In-House with $1.8 Billion SkyWater Acquisition

2026-01-28 companies

College Park, Tuesday, 27 January 2026.
This strategic move creates the industry’s first vertically integrated quantum platform, accelerating IonQ’s roadmap to test 200,000-qubit chips by 2028.

Structuring the Deal

The definitive agreement, announced yesterday, January 26, 2026, outlines a cash-and-stock transaction where IonQ will purchase SkyWater for a total value of 35 dollars per share [1]. This valuation represents a premium of approximately 38% over SkyWater’s 30-day volume-weighted average share price as of the market close on January 23, 2026 [1][5]. Under the terms of the deal, SkyWater shareholders are set to receive $15.00 in cash and $20.00 in IonQ common stock for each share held, implying a total equity value of approximately $1.8 billion [1][4].

Accelerating the Quantum Timeline

The integration of SkyWater’s manufacturing capabilities is expected to significantly speed up IonQ’s technical milestones. The company has announced that functional testing of its 200,000-qubit quantum processing units (QPUs) is now scheduled to begin in 2028 [1][4]. This development is anticipated to enable 8,000 Ultra-High Fidelity Logical Qubits and could accelerate the arrival of the 2,000,000 qubit chip by up to a year [1]. SkyWater’s facilities in Minnesota, Florida, and Texas will serve as the production hubs for these next-generation processors [4].

Market Impact and Future Outlook

The market reacted positively to the news on Monday, with IonQ shares rising approximately 4% in early trading, while SkyWater stock jumped nearly 8% [4]. Beyond the acquisition news, IonQ provided an optimistic update regarding its financial performance, stating that it expects full-year 2025 revenue to land at the high end or exceed its previously issued guidance range of $106 million to $110 million [1].

Sources

Mergers Acquisitions Quantum Computing