UK government clears IonQ’s $1bn acquisition of UK’s Oxford Ionics, but with quantum strings attached

IonQ $1.075 billion take-over of UK-based Oxford Ionics has been approved by the UK Government, which could have blocked it under the UK’s National Security and Investment Act 2021.

US-based IonQ says the deal will accelerate its ability to deliver scalable quantum computing and fault-tolerant quantum computers, allowing it to combine its own quantum compute and networking capabilities with Oxford Ionics’ trapped-ion-on-a-chip technology.

The UK Government has now said that although the acquisition is a trigger event under the National Security and Investment Act, it will give the deal the green light, if certain conditions are met. Effectively, Oxford Ionics’ research and development (including personnel), production, and both tangible and intangible assets must remain in the UK.

The official decision, from the Chancellor of the Duchy of Lancaster, says that both parties must continue to “host current and future generations of Oxford Ionics’ trapped-ion quantum computing hardware in the UK to allow for its independent assessment and validation on request as part of current or future government programmes or contracts.”

The decision also specifies that IonQ and Oxford Ionics must maintain the latter’s “science, engineering and infrastructure functions in the UK, including suitably qualified and experienced personnel, tangible and intangible assets and manufacturing capacity related to the development of trapped-ion quantum computing hardware.”

The purchase price will be made up of $1.065 billion in IonQ stock and $10 million in cash, according to this news report from UKTN.

In August this year, UKTN reported, Oxford Ionics provided a full stack quantum computer to the UK’s National Quantum Computing Centre (NQCC) and, in partnership with NQCC and Innovate UK, launched a testbed programme to explore how quantum computers can provide commercial returns. The new quantum computer, named QUARTET, was installed in NQCC’s data centre in Harwell.

IonQ $1.075 billion take-over of UK-based Oxford Ionics has been approved by the UK Government, which could have blocked it under the UK’s National Security and Investment Act 2021.

US-based IonQ says the deal will accelerate its ability to deliver scalable quantum computing and fault-tolerant quantum computers, allowing it to combine its own quantum compute and networking capabilities with Oxford Ionics’ trapped-ion-on-a-chip technology.

The UK Government has now said that although the acquisition is a trigger event under the National Security and Investment Act, it will give the deal the green light, if certain conditions are met. Effectively, Oxford Ionics’ research and development (including personnel), production, and both tangible and intangible assets must remain in the UK.

The official decision, from the Chancellor of the Duchy of Lancaster, says that both parties must continue to “host current and future generations of Oxford Ionics’ trapped-ion quantum computing hardware in the UK to allow for its independent assessment and validation on request as part of current or future government programmes or contracts.”

The decision also specifies that IonQ and Oxford Ionics must maintain the latter’s “science, engineering and infrastructure functions in the UK, including suitably qualified and experienced personnel, tangible and intangible assets and manufacturing capacity related to the development of trapped-ion quantum computing hardware.”

The purchase price will be made up of $1.065 billion in IonQ stock and $10 million in cash, according to this news report from UKTN.

In August this year, UKTN reported, Oxford Ionics provided a full stack quantum computer to the UK’s National Quantum Computing Centre (NQCC) and, in partnership with NQCC and Innovate UK, launched a testbed programme to explore how quantum computers can provide commercial returns. The new quantum computer, named QUARTET, was installed in NQCC’s data centre in Harwell.

IonQ $1.075 billion take-over of UK-based Oxford Ionics has been approved by the UK Government, which could have blocked it under the UK’s National Security and Investment Act 2021.

US-based IonQ says the deal will accelerate its ability to deliver scalable quantum computing and fault-tolerant quantum computers, allowing it to combine its own quantum compute and networking capabilities with Oxford Ionics’ trapped-ion-on-a-chip technology.

The UK Government has now said that although the acquisition is a trigger event under the National Security and Investment Act, it will give the deal the green light, if certain conditions are met. Effectively, Oxford Ionics’ research and development (including personnel), production, and both tangible and intangible assets must remain in the UK.

The official decision, from the Chancellor of the Duchy of Lancaster, says that both parties must continue to “host current and future generations of Oxford Ionics’ trapped-ion quantum computing hardware in the UK to allow for its independent assessment and validation on request as part of current or future government programmes or contracts.”

The decision also specifies that IonQ and Oxford Ionics must maintain the latter’s “science, engineering and infrastructure functions in the UK, including suitably qualified and experienced personnel, tangible and intangible assets and manufacturing capacity related to the development of trapped-ion quantum computing hardware.”

The purchase price will be made up of $1.065 billion in IonQ stock and $10 million in cash, according to this news report from UKTN.

In August this year, UKTN reported, Oxford Ionics provided a full stack quantum computer to the UK’s National Quantum Computing Centre (NQCC) and, in partnership with NQCC and Innovate UK, launched a testbed programme to explore how quantum computers can provide commercial returns. The new quantum computer, named QUARTET, was installed in NQCC’s data centre in Harwell.

IonQ $1.075 billion take-over of UK-based Oxford Ionics has been approved by the UK Government, which could have blocked it under the UK’s National Security and Investment Act 2021.

US-based IonQ says the deal will accelerate its ability to deliver scalable quantum computing and fault-tolerant quantum computers, allowing it to combine its own quantum compute and networking capabilities with Oxford Ionics’ trapped-ion-on-a-chip technology.

The UK Government has now said that although the acquisition is a trigger event under the National Security and Investment Act, it will give the deal the green light, if certain conditions are met. Effectively, Oxford Ionics’ research and development (including personnel), production, and both tangible and intangible assets must remain in the UK.

The official decision, from the Chancellor of the Duchy of Lancaster, says that both parties must continue to “host current and future generations of Oxford Ionics’ trapped-ion quantum computing hardware in the UK to allow for its independent assessment and validation on request as part of current or future government programmes or contracts.”

The decision also specifies that IonQ and Oxford Ionics must maintain the latter’s “science, engineering and infrastructure functions in the UK, including suitably qualified and experienced personnel, tangible and intangible assets and manufacturing capacity related to the development of trapped-ion quantum computing hardware.”

The purchase price will be made up of $1.065 billion in IonQ stock and $10 million in cash, according to this news report from UKTN.

In August this year, UKTN reported, Oxford Ionics provided a full stack quantum computer to the UK’s National Quantum Computing Centre (NQCC) and, in partnership with NQCC and Innovate UK, launched a testbed programme to explore how quantum computers can provide commercial returns. The new quantum computer, named QUARTET, was installed in NQCC’s data centre in Harwell.

UK government clears IonQ’s $1bn acquisition of UK’s Oxford Ionics, but with quantum strings attached

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