Hogan Lovells advises Oxford Ionics on its proposed sale to IonQ

IonQ is a leader in quantum computing and networking, developing high performance systems based on trapped ion technology to help solve the world’s most complex commercial and research challenges. Oxford Ionics holds the current world records for fidelity, which measures the accuracy of quantum operations.

Oxford Ionics has entered into a definitive agreement for IonQ to acquire Oxford Ionics in a transaction valued at $1.075 billion, which will consist of $1.065 billion in shares of IonQ common stock and approximately $10 million in cash (subject to customary closing adjustments and expenses). The transaction is subject to customary closing conditions, including receipt of required regulatory approvals, and is expected to close in 2025.

The transaction will bring together IonQ’s quantum compute, application, and networking stack with Oxford Ionics’ groundbreaking ion-trap technology manufactured on standard semiconductor chips. The combined technologies are expected to deliver innovative, reliable quantum computers that increase in power, scale, and problem-solving capabilities.

The Hogan Lovells team is led by Global Head of M&A Bill Curtin, and M&A partners Peter Cohen-Millstein and Simon Grimshaw, along with competition partners Logan Breed and Angus Coulter, IP and Technology partner Audrey Reed, senior associates Jason Lee and Jake Shaner, and associates James Dayman, Cassie Ditzel, and Blaise Salle.