One of the most exciting publicly traded companies in quantum computing is making a new acquisition.

‍What’s happening:‍

• IonQ (NYSE: IONQ) has announced they have entered into an agreement to acquire California based quantum networks company Qubitekk
  

By the numbers:‍

• IonQ will pay approximately $22M USD to purchase Qubitekk
  

The big idea:‍

• Qubitekk has developed leading edge hardware and software for quantum networks that have applications across security, finance, healthcare and more
  
• Quantum networks are a highly important precursor to quantum-enabled internet and represents a foundational layer of technology to be able to test and validate quantum communication over long distances and other infrastructure related challenges
  

Why it matters:‍

• IonQ has become one of the most important publicly listed companies focused on quantum computing in North America and has recently landed notable deals with both the United States Air Force and the University of Maryland to accelerate quantum computing technology
  
• Qubitekk previously deployed the first ever commercially available quantum network in the United States of America in Chattanooga, Tennessee
  

Going deeper:‍

• Qubitekk has multiple existing notable partners and customers, including the United States Department of Energy, NASA and Verizon (NYSE: VZ)

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