$QBTS

D-Wave Quantum to buy Quantum Circuits for $550M in cash and stock

D-Wave Quantum (QBTS) has agreed to buy Quantum Circuits for a purchase price of $550 million, consisting of $300 million in D-Wave common stock and $250 million in cash.

The acquisition will bring together D-Wave’s expertise in scalable control of superconducting processors as well as its production-grade, high-availability quantum cloud platform with Quantum Circuits’ approach to error-corrected superconducting gate-model technology.

As part of the acquisition, Quantum Circuits’ experts in superconducting quantum computing and device physics, including Rob Schoelkopf, will expand D-Wave’s effort with a research and development center in New Haven, Connecticut. Schoelkopf, also a quantum professor at Yale University, specializes in superconducting quantum computing and practical error correction.

“With this acquisition, we believe that D-Wave has unequivocally cemented its position as the world’s most advanced and established leader in superconducting quantum computing,” said Alan Baratz, CEO of D-Wave.

“Together with Quantum Circuits, we expect that D-Wave will leapfrog the industry, bringing gate-model products and services to market in 2026 and rapidly progressing our dual-platform strategy of delivering annealing and gate-model systems to address customers’ full breadth of computational problems. It’s a pivotal milestone and one that we believe will secure D-Wave’s long-term value proposition as quantum computing development and adoption accelerates.”