IonQ announced that it has reached a definitive agreement with each of SK Telecom and ID Quantique (IDQ), a leader in quantum safe networking and sensing headquartered in Geneva, Switzerland with offices in Seoul (South Korea), Vienna (Austria), and Boston (USA), to acquire a controlling stake in IDQ. Along with the deal, IonQ expects to enter into a strategic partnership focused on quantum with SK Telecom, the largest wireless telecommunications operator in South Korea.
As part of the deal, once closed, IonQ will bring IDQ’s team, pioneering products, and growing book of quantum networking business into its global quantum ecosystem. And IDQ’s patent portfolio of nearly 300 patents and applications will bring the total count of granted and pending patents that IonQ owns or controls to nearly 900.
With over 20 years of experience, IDQ offers a broad range of products across quantum networking and quantum-safe communication, including quantum key distribution, quantum random generators and quantum detection systems, key pillars of the quantum industry. IDQ has been deploying quantum-safe networks around the world.
Some recent examples are implementing the Nationwide Quantum Safe Network Plus (NQSN+) in Singapore, deploying an 800 km-long nationwide network in South Korea, and key projects as part of Europe’s quantum communications infrastructure (EuroQCI). And ID Quantique commercializes high-performance single-photon detectors, key components to build quantum memories and scalable quantum computers. McKinsey estimates that the quantum networking market will grow to between $10-15 billion by 20351 – scaling to become as large if not larger than the quantum computing industry itself.
IonQ and IDQ believe quantum networks will be fundamental infrastructure in the future, with uses in many sectors, especially defense, finance, and energy. The technology allows many nodes to communicate using entangled qubits, resulting in highly secure communications, precise timing, distributed quantum computing, and quantum sensing.
IonQ has long recognized that quantum networking is a key strategy to scale its quantum computers. IonQ’s architecture intends to use photonic interconnects to create a more powerful computing cluster by networking multiple quantum computers together. And the years IonQ has spent developing this technology for its distributed computing efforts have allowed it to move quickly in advancing its quantum networking offerings.
IonQ anticipates closing the acquisition in the next 9 months, subject to the satisfaction of customary closing conditions.
IonQ’s deal with IDQ directly follows a series of recent announcements from IonQ in the quantum networking space. Last month, IonQ announced the consummation of its acquisition of substantially all of the assets of Qubitekk, Inc., a quantum networking leader in the U.S., bringing Qubitekk’s team, customer base, and portfolio of 118 U.S. and international patents in quantum networking to IonQ.
IonQ also revealed the close of two quantum networking contracts with the United States Air Force Research Lab (AFRL) in 2024, including the largest known 2024 U.S. Quantum Contract Award of $54.5 million to design, develop and deliver quantum networking technology as well as another $21.1 million award that involves the creation of groundbreaking capabilities to establish free-space optical links from ground stations to drones.
IonQ has also shown growing momentum in South Korea. In January 2025, IonQ also announced the signature of a Memorandum of Understanding with the Metropolitan Government of Busan, the second largest city in South Korea known as a key technology and economic hub, to advance quantum technology. Previously, IonQ announced customer contracts and strategic partnerships with Hyundai Motor Group and Sungkyunkwan University (SKKU), a leading university based in Seoul. The expected strategic partnership with SK Telecom builds on IonQ’s history of success in South Korea.
Wilson Sonsini Goodrich & Rosati served as lead transaction counsel to IonQ and Homburger AG served as Swiss counsel to IonQ. And ArentFox Schiff also served as legal counsel to IonQ.
This deal consideration will be paid in IonQ common stock.
KEY QUOTES:
“This strategic transaction and the expertise of ID Quantique furthers IonQ’s role as a global leader in next generation secure communications. And once finalized, we expect that our intended strategic partnership with SK Telecom, one of the most powerful technology companies in Asia, will significantly enhance the distribution of IonQ quantum technology, leading to many commercial and technical opportunities.”
- Peter Chapman, Executive Chair of IonQ
“Quantum technology is not an option but an essential element for the advancement of AI. SKT will continue to make proactive investments and collaborations to become a leading company in the AI field.”
- Ryu Young-sang, CEO of SK Telecom, who further explained the reason for the strategic partnership with IonQ
“ID Quantique is excited to be joining the IonQ portfolio, to continue its journey providing quantum networking technology worldwide. IonQ has been a pioneer in the quantum industry, developing powerful computing systems combined with dedication to quantum networking–vital infrastructure underpinning the entire global economy. We have long admired IonQ’s work, and know that the combination of IDQ and IonQ will be powerful, accretive, and impactful worldwide.”
- Grégoire Ribordy, Co-Founder and CEO of IDQ
