IonQ completes all-stock acquisition of Elisity

IonQ, the NYSE-listed quantum platform company, has completed its acquisition of Elisity, Inc., a Zero Trust security company, in an all-stock transaction. IonQ issued $1.15 billion of common stock at closing under the merger agreement.

The sellers may earn up to an additional $150 million based on Elisity's revenue milestones through January 2028. IonQ said the deal adds Zero Trust technology to its post-quantum cryptography and quantum key distribution capabilities, giving enterprise and government customers one security architecture.

Elisity will keep serving customers under its current leadership, led by CEO James Winebrenner, with existing deployments and identity policies carried forward. The company cited more than 100 deployments as a basis for extending its platform toward post-quantum cryptography.