D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services, has entered into a definitive merger agreement to acquire Quantum Circuits Inc., a developer of error-corrected superconducting gate-model quantum computing systems, for $550 million. The consideration comprises $300 million in D-Wave common stock and $250 million in cash. This acquisition positions D-Wave as the world's first and only dual-platform quantum computing company, offering both annealing and gate-model technologies to address a broader range of computational problems.
The merger brings together D-Wave's expertise in scalable control of superconducting processors and its production-grade quantum cloud platform with Quantum Circuits' innovative dual-rail technology, which features built-in error detection. This combination is expected to significantly reduce the physical resources required to build logical qubits, accelerating the timeline for delivering a scaled, error-corrected gate-model quantum computer. The first deliverable under the accelerated roadmap will be an initial dual-rail system, planned for general availability in 2026.
D-Wave, the world's first commercial supplier of quantum computers, has over 100 organizational customers and has processed more than 200 million problems on its systems. The company's quantum cloud service offers 99.9% availability and uptime. Quantum Circuits, founded by Yale Professor Rob Schoelkopf and other quantum physicists, specializes in high-fidelity qubits with intrinsic error detection, a key component for achieving fault-tolerant quantum computing.
According to the companies, the transaction is expected to expand the use cases addressable by commercial quantum computing, particularly in optimization, artificial intelligence, and research. D-Wave believes the combined technology will enable it to be the first to deliver fully error-corrected, scaled gate-model quantum computing. The acquisition is subject to customary closing conditions and regulatory approvals.
For more details, the full press release is available at https://ibn.fm/05ZhB. Additional information about D-Wave can be found at www.dwavequantum.com, and about Quantum Circuits at www.quantumcircuits.com.
Forward-looking statements in the announcement, including those regarding the acquisition and product timelines, are subject to risks and uncertainties detailed in D-Wave's SEC filings. The company undertakes no obligation to update these statements.
