IonQ to Acquire Elisity for $1.3 Billion
COLLEGE PARK, MD — IonQ, which operates a full-stack quantum platform and foundry, has agreed to acquire cybersecurity firm Elisity in an all-stock transaction valued at up to $1.3 billion. The acquisition brings together IonQ’s post-quantum cryptography (PQC) and quantum key distribution (QKD) capabilities with Elisity’s enterprise Zero Trust technology platform. On a combined basis, IonQ will benefit from an expanded cybersecurity platform that both uncovers and protects against present LLM and emerging quantum threats.
Elisity, based in Dallas, builds on IonQ’s expanding quantum security offerings with a high-growth enterprise security business, cutting-edge Zero Trust technology platform, and team of industry leaders led by cybersecurity expert CEO James Winebrenner. Elisity has a strong track record of doubling its revenue and its customer base year-over-year with zero churn among deployed customers. With more than 100 global customer deployments and deep CISO and security community relationships, Elisity will provide IonQ with expanded channels to bring its PQC, QKD and quantum computing offerings to market for both enterprise and government networks, opening up the more than $10 billion microsegmentation opportunity with double-digit CAGR to IonQ.
“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,” said 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,” said James Winebrenner, CEO of Elisity. “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.”
Under the terms of the agreement, IonQ will acquire Elisity in an all-stock transaction valued at up to $1.3 billion, including up to $150 million in earnout opportunity subject to performance of the Elisity business. The number of IonQ shares to be issued in the transaction will be calculated at closing based on the volume weighted average price of IonQ common stock for the 20 trading days prior to, but not including, the third business day before the closing date, but that price will not be greater than $49.61 or less than $33.07 per share.
The deal is expected to close in the fourth quarter of 2026.
