IonQ Stock Heads for a Record High. This Acquisition Got Clearance.

IonQ entered into an agreement to acquire British start-up Oxford Ionics in June. (Courtesy IonQ)

Key Points

About This Summary

• IonQ shares jump after the U.K. clears its $1.075 billion acquisition of Oxford Ionics.
• The deal consists of $1.065 billion in IonQ shares and $10 million in cash.
• IonQ’s CEO suggests the company could be part of an announcement during President Trump’s U.K. visit.

Shares of IonQ surged Friday after the quantum-computing company said the UK Investment Security Unit had cleared its acquisition of Oxford Ionics, a British start-up.

The companies in June said they entered into a definitive agreement for IonQ to acquire Oxford Ionics for $1.075 billion, in a transaction consisting of $1.065 billion in IonQ shares plus $10 million in cash.

Speaking at the company’s investor day on Friday, CEO Niccolo de Masi said IonQ was the “best-capitalized company” in the sector. He indicated that IonQ could be included in an announcement during President Donald Trump’s upcoming visit to the U.K. next week.

Shares spiked 17% to $55.25, putting them on track for a record high, according to Dow Jones Market Data. Pure-play quantum peers also were rising. D-Wave Quantum, Rigetti Computing, and Quantum Computing gained 6.9%, 15%, and 7.2%, respectively.

IonQ is no stranger to acquisitions. In June, the company finalized its purchase of Capella Space, a satellite company. The following month, it completed its acquisition of Lightsync, a Boston-based start-up building technology to link quantum computers.

With regard to Oxford Ionics, the company “looks forward to closing the deal in the near term,” IonQ said in a press release.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com