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IonQ will acquire SkyWater Technology for approximately $1.8 billion, offering $15 in cash and $20 in shares per SkyWater share. The deal, subject to a collar, represents a 38% premium on SkyWater's recent average stock price.

SkyWater will operate as a subsidiary after the deal closes in the second or third quarter of 2026, pending shareholder and regulatory approvals. The acquisition aims to enhance IonQ's quantum computing capabilities and establish a vertically integrated quantum platform, with SkyWater's facilities serving as Regional Quantum Production Hubs.