IonQ entered into a definitive agreement to acquire Elisity, a Zero Trust security company, in an all-stock transaction valued at up to $1.3 billion.
The acquisition combines IonQ’s post-quantum cryptography and quantum key distribution capabilities with Elisity’s enterprise Zero Trust security platform.
IonQ said the combination will broaden its cybersecurity offering by helping enterprises and government customers address current cyber threats while preparing their networks for emerging quantum-era risks.
Elisity brings an established enterprise security business, more than 100 global customer deployments, deep relationships with chief information security officers, and recurring revenue growth.
The company has doubled both revenue and its customer base year-over-year while maintaining zero churn among deployed customers.
IonQ said Elisity also provides access to the more than $10 billion microsegmentation market, which it described as growing at a double-digit compound annual rate.
Elisity’s IdentityGraph platform combines asset identity, partner-enriched context, and risk information to inform least-privilege access policies for users, devices, workloads, and AI agents.
The platform allows security teams to simulate policies before restricting each identity to only the communications it needs, helping reduce attack surfaces and limit the spread of potential threats.
Following the acquisition, IonQ plans to integrate Elisity’s Zero Trust framework with its post-quantum cryptography and quantum key distribution technologies.
The combined roadmap is expected to extend IdentityGraph with cryptographic inventory and risk information, creating a broader security platform for organizations transitioning toward quantum-resistant systems.
Elisity will continue serving customers under its existing leadership following the closing, including CEO James Winebrenner.
IonQ expects the companies to pursue opportunities to cross-sell complementary security solutions, expand enterprise and government relationships, and develop additional integrated offerings.
IonQ has already deployed quantum-safe communications networks in countries including Switzerland, Poland, Romania, and Slovakia.
The company said customers are increasingly adopting multiple products across its portfolio, with multiproduct revenue increasing 40% year-over-year during the second quarter of 2026.
Under the agreement, IonQ will acquire Elisity in an all-stock transaction valued at up to $1.3 billion.
The total includes up to $150 million in potential earnout consideration tied to the performance of Elisity’s business.
The number of IonQ shares issued will be determined at closing based on the volume-weighted average price of IonQ common stock during the specified 20-trading-day period.
The transaction establishes a maximum share price of $49.61 and a minimum share price of $33.07 for purposes of calculating the consideration.
The acquisition is expected to close during the fourth quarter of 2026, subject to customary closing conditions and required regulatory approval.
Founded in 2019, Elisity develops Zero Trust security technology for users, devices, workloads, AI agents, and other non-human identities.
The company has a global employee footprint and a growing customer base within the Fortune 500.
KEY QUOTES:
“With Elisity and its team as part of IonQ, we will be well positioned to help customers protect critical infrastructure and enterprise networks throughout the transition to the quantum era. As I said first, Q-Day is coming much faster than predicted. IonQ is offering its customers a vertically integrated full-stack quantum platform across quantum computing, networking, sensing and cybersecurity. Just as adding SkyWater Technology expanded IonQ’s capabilities in chip design, fabrication and packaging, Elisity will bring proven enterprise policy enforcement scale and deployment experience to our quantum security strategy and will give IonQ a strong growth platform to serve customers and create value for our shareholders.”
Niccolo de Masi, Chairman and CEO of IonQ
“Our customers need to prioritize post-quantum cryptography initiatives while securing existing assets to keep essential operations running. With IonQ, we will be optimally positioned to partner with them to modernize their crypto-agility programs, accelerate post-quantum cryptography capabilities while advancing their holistic Zero Trust posture and deploy hybrid-cybersecurity solutions today that are prepared for the quantum future.”
James Winebrenner, CEO of Elisity
