IonQ’s purchase of Vector Atomic will support efforts to grow its sales to governments, says Needham & Company
IonQ’s announced plans to acquire quantum sensor company Vector Atomic in an all-stock deal worth approximately $400 million. The purchase is expected to close in Q4.
“This acquisition marks a significant acceleration and expansion opportunity for IonQ as we continue to lead the commercialization of quantum technologies,” Niccolo de Masi, chairman and CEO of IonQ, said in a press release. “Integrating Vector Atomic’s sensing capabilities across our compute, networking, and space portfolios will advance our mission to provide scalable, commercial-grade quantum solutions for our customers today. The addition of Vector Atomic’s 29 pending and issued patents to IonQ’s formidable patent portfolio, and its talented team of scientists and engineers will help us reach our quantum technology goals.”
Needham analyst N. Quinn Bolton, who has a “buy” rating and $80 price target on IonQ, highlighted that Vector Atomic’s more than $200 million in government contracts and projects would help support the company’s growth in this area.
“Vector Atomic’s field-validated offerings, which include high-performance clocks, synchronization hardware, gravimeters, and inertial sensors, strengthen IonQ’s position as the only quantum company integrating computing, networking, and sensing within a single platform,” he wrote. “Vector Atomic’s portfolio of products has been designed to support mission-critical federal and national security applications.”
This deal comes on the heels of the closing of its acquisition of Oxford Ionics and its Analyst Day event, which served as a catalyst for IonQ and the broader quantum space.
Today, on the other hand, IonQ is not the top performer in the industry: that distinction goes to D-Wave Quantum, which is benefiting from a wave of bullish options bets.
