IonQ acquires semiconductor foundry SkyWater Technology for $1.8B
IonQ, Inc. (IONQ) announced on Monday that it has acquired SkyWater Technology, the largest U.S.-based pure-play semiconductor foundry, in a deal worth approximately $1.8 billion.
The acquisition is being made for $35 per share in a cash-and-stock transaction, subject to a collar. SkyWater shareholders will receive $15 in cash and $20 in shares of IonQ common stock for each share of SkyWater common stock held at the close of the transaction.
The purchase price represents a 38% premium to the 30-day volume-weighted average price of SkyWater shares as of market close on January 23.
At the close of the deal, SkyWater will operate as a wholly owned subsidiary of IonQ under the SkyWater name and continue to be led by CEO Thomas Sonderman. Sonderman will report to IonQ chairman and CEO Niccolo de Masi.
“This transformational acquisition enables IonQ to materially accelerate its quantum computing roadmap and secure its fully scalable supply chain domestically,” de Masi said in a statement.
“With secure, U.S.-based design, packaging and chip fabrication – IonQ will benefit from vertical integration across our increasingly interlinked quantum computing, quantum networking, quantum security, and quantum sensing applications for land, sea, air, and space.”
He added that the merger "will significantly accelerate commercialization of our fully fault-tolerant quantum computers and benefit our nation’s broader quantum industry, enhancing our national security, economic strength, and technological superiority.”
With the deal for SkyWater, IonQ said that it becomes "the only vertically integrated full-stack quantum platform company" that now has access to its own US-based foundry.
"We believe that IonQ will be positioned as a core quantum computing, quantum networking, quantum security, and quantum sensing provider for the U.S. government, allies and partners," the company said.
IonQ also noted that having an end-to-end domestic supply chain through its acquisition of SkyWater will support its work with the US government and defense sectors, which it is pursuing through its recently launch IonQ Federal business unit.
Meanwhile, SkyWater will continue to focus on working with the aerospace and defense sectors, while also supplying "essential technology building blocks" to other companies working in AI, quantum computing and other sectors.
“As the largest pure-play semiconductor foundry based in the U.S., SkyWater is already the partner of choice for advanced development and manufacturing services in both the public and private sectors as quantum computing and manufacturing increasingly align," Sonderman said in a statement.
"Joining forces with IonQ will accelerate multiple engineering pathways for next-generation quantum chips, delivering speed, precision, and scale."
IonQ's stock fell 8.3% on Monday despite news of the SkyWater transaction.
After broadly surging throughout 2025, investors appear to be pulling back somewhat on quantum computing stocks to begin the new year.
IonQ is down 3.4%, Rigetti Computing (RGTI) is down 1.8% and D-Wave Quantum (QBTS) has dropped 9.3%. Quantum Computing (QUBT) is up 5.7% so far this year, but has fallen 14.7% over the past five trading sessions.
One of the biggest questions facing the industry - specifically how long it will take to reach commercialization - was brought to the forefront again last week.
Ark Invest founder Cathie Wood asserted in her Big Ideas 2026 report that quantum computing is "unlikely to be disruptive for 20 to 40 years."
Wood said that the "performance improvement curve has been slow" for the industry, noting that despite "spending billions in research and development (R&D), Google doubled qubits only once in more than four years."