June 9 (UPI) -- IonQ announced an agreement Monday to buy Oxford Ionics for $1.075 Billion.
This agreement consists of $1.065 shares in IonQ common stock and approximately $10 Million in cash.
"We're tremendously excited to work alongside the world-class quantum computing and networking teams at IonQ. Together, we intend to move faster than any other player in the industry to deliver the leading fault-tolerant quantum computers with transformative value for customers," said CEO of Oxford Ionics, Dr. Chris Ballance.
IonQDevelops high-performance systems based on trapped ion technology, with Oxford Ionics holds the current records for fidelity to measure the accuracy of quantum operations.
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