D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services, and Quantum Circuits Inc., a developer of error-corrected superconducting gate-model quantum computing systems, have entered into a merger agreement. Under the terms, D-Wave will acquire Quantum Circuits for $550 million, comprising $300 million in D-Wave common stock and $250 million in cash. The transaction is expected to establish D-Wave as the world's first and only dual-platform quantum computing company, offering both annealing and gate-model technologies.
The acquisition brings together D-Wave's expertise in scalable control of superconducting processors and its production-grade quantum cloud platform with Quantum Circuits' dual-rail technology, which features built-in error detection. This combination is projected to dramatically accelerate the timeline to a scaled, error-corrected gate-model quantum computer. D-Wave believes this will enable it to be the first to deliver fully error-corrected, scaled gate-model quantum computing, significantly expanding the use cases addressable by commercial quantum computing. The first deliverable is an initial dual-rail system planned for general availability in 2026.
By integrating Quantum Circuits' high-fidelity qubits with intrinsic error detection, the combined company aims to reduce the physical resources required for logical qubits, accelerating the path to fault-tolerant quantum computing. This move secures D-Wave's position as a leader in both annealing and gate-model quantum computing, addressing a broader set of complex computational problems for customers. Over 100 organizations currently use D-Wave's quantum systems, which have processed more than 200 million problems to date.
The transaction is subject to customary closing conditions and regulatory approvals. D-Wave's forward-looking statements caution that actual results may differ materially due to risks and uncertainties, including those detailed in its SEC filings. For more information on the announcement, visit the full press release at https://ibn.fm/05ZhB.
D-Wave Quantum Inc. is the world's first commercial supplier of quantum computers and the only company building both annealing and gate-model quantum computers. Quantum Circuits Inc., founded by Yale Professor Rob Schoelkopf, specializes in error-corrected superconducting gate-model technology. The merger is expected to combine their strengths to commercialize error-corrected quantum computing sooner than previously anticipated.
