Mentioned:
IONQ -13.52% SKYT -7.88%

IonQ is buying a semiconductor foundry in the United States of America. But, why?

What’s happening:

  • IonQ (NYSE: IONQ) has entered into a new deal to acquire SkyWater Technology (NASDAQ: SKYT) for $1.8B USD

By the numbers:‍

  • IonQ will pay $35.00 USD per share to buy SkyWater Technology
  • IonQ will pay approximately $720M USD in cash and issue $1.08B USD in equity as part of the acquisition

Why it matters:‍

  • SkyWater Technology is one of the fastest growing and largest semiconductor foundries that is fully based in the United States of America

Going deeper:‍

  • IonQ has publicly stated that purchasing SkyWater Technology will meaningfully accelerate their quantum computing hardware development and advance the commercialization of their fault tolerant quantum computers
  • SkyWater Technology will continue to operate independently as a wholly owned subsidiary of IonQ following the closing of the acquisition

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