IonQ (NYSE: IONQ), a College Park, MD-based leader in the quantum computing and networking industry has completed its acquisition of substantially all of the assets of Qubitekk, Inc., a prominent Vista, CA-based quantum networking company. The transaction will significantly expand IonQ’s quantum networking capabilities bringing Qubitekk’s commercial operations, customer base, executive team and employees, and 118 granted quantum networking patents to IonQ. The transaction was first announced on November 6, 2024 and was closed on December 27, 2024.
Calabasas Capital served as exclusive financial advisor to Qubitekk and assisted in negotiations and due diligence.
Qubitekk designs, builds, and integrates the hardware and software for quantum networks, precursors to the quantum-enabled internet. Qubitekk’s comprehensive entanglement distribution technology is at the core of the Bohr-IV Metro Quantum Network solution and utilized in its Quantum Network Essentials product line and secure network solutions being developed for drones, satellite communications, and the electric grid. Co-founded by Dr. Duncan Earl, a nationally recognized pioneer in the field of practical quantum applications, Qubitekk’s quantum technology is empowering the next generation of solutions for AI, machine learning, automation, sensing applications, cybersecurity, and secure communications. The company’s growing list of partners and customers includes EPB, NASA, GE, Verizon, Juniper, the United States Department of Energy, and the United States Department of Defense.
“Qubitekk is thrilled to be joining IonQ to capitalize on our early advantage in the quantum networking space,” said Stan Ellis, Co-Founder and CEO of Qubitekk. “We have admired IonQ as the pioneering quantum company, with powerful computing systems and a demonstrated commitment to quantum networking as critical infrastructure. Uniting Qubitekk with IonQ will allow us to pursue the quantum-enabled internet as a near-term reality.” He added, “We also want to thank our investment bankers at Calabasas Capital, led by Andrew Williamson, who did a great job representing the shareholders of Qubitekk in this transaction. Andrew was an integral part of our team, working collaboratively from start to finish and his M&A and corporate development expertise was instrumental in completing this deal.”
Andrew Williamson, Managing Director of Calabasas Capital said, “Qubitekk is the clear leader in quantum networking and by joining forces with the leading public company in quantum computing I fully anticipate exciting new developments as the combined team fulfill the promise of quantum with real world solutions for critical applications in defense, space, electric grid and cybersecurity. Calabasas Capital is truly honored to have had the opportunity to play a key role in this transaction.”
Qubitekk’s executive team and employee base including physicists, engineers, software developers, and others will join IonQ to further drive quantum networking efforts. The Qubitekk team joining IonQ includes Co-Founder and CEO Stan Ellis, Co-Founder and CTO Dr. Duncan Earl, Chief Revenue Officer Corey McClelland, and President Keith Clark.
The official press releases from IonQ can be accessed here: https://ionq.com/news/ionq-completes-acquisition-of-qubitekk-solidifying-leadership-in-quantum, https://ionq.com/news/ionq-to-acquire-qubitekk-furthering-leadership-in-quantum-networking .
Please contact Andrew Williamson with any questions about this transaction and the investment banking services of Calabasas Capital.
