TLDR
- IonQ received UK regulatory clearance for its $1.075 billion Oxford Ionics acquisition
- The approval fulfills all deal conditions, with closing expected soon
- IonQ launched IonQ Federal division securing over $100 million in government contracts
- Stock gained 537% over the past year before today’s 16% jump
- Deal includes $1.065 billion in IonQ stock plus $10 million cash
IonQ Inc stock jumped 16% on Friday after the quantum computing company announced it received regulatory approval from the United Kingdom’s Investment Security Unit. The clearance covers IonQ’s planned acquisition of Oxford Ionics.
The approval fulfills all conditions required for the deal. This sets the stage for the transaction to close in the near future.
The acquisition agreement was first announced in June. The deal is valued at $1.075 billion total.
The package includes approximately $1.065 billion in IonQ stock. An additional $10 million will be paid in cash.
IonQ stock has performed well this year. The shares gained over 537% in the past year according to Benzinga Pro data.
On Stocktwits, retail sentiment around the stock jumped to “extremely bullish” from “neutral” territory. Message volume improved to “extremely high” from “normal” levels in 24 hours.
The Maryland-based quantum computing firm has been expanding its operations. Earlier this month, IonQ launched a new unit called IonQ Federal.
Government Contracts Drive Federal Division
The new division consolidates IonQ’s quantum networking and computing services. The focus is on serving the U.S. government and allied partners.
IonQ Federal is designed to streamline delivery of the company’s hardware and software. The division targets agencies with national security requirements.
The company has already secured substantial government business. IonQ has more than $100 million in government contracts according to company statements.
These contracts include projects with several key agencies. The U.S. Air Force Research Lab is among the clients.
DARPA has also contracted with IonQ. Oak Ridge National Laboratory and ARLIS are additional government partners.
Robert Cardillo leads the new federal division as executive chairman. He continues to serve on IonQ’s board of directors.
Leadership Background Supports Expansion
Cardillo brings extensive national security experience to the role. He previously directed the National Geospatial-Intelligence Agency.
He also advised the U.S. president on intelligence matters. His background spans decades in national security work.
Cardillo emphasized the importance of quantum computing standards. He specifically mentioned interoperability for the U.S. and its allies.
The new division aims to provide faster access to quantum solutions. The focus is on complex defense challenges that agencies face.
Chairman and CEO Niccolo de Masi outlined the company’s federal strategy. He said IonQ is positioning itself to deliver quantum advantage at scale.
The company plans to expand across key federal programs. This represents a major growth opportunity in the government sector.
IonQ shares closed Friday trading at $54.32. This represents a 15.71% gain for the trading session.
