D-Wave Quantum Inc. (QBTS), a developer of quantum computing systems, Wednesday said it agreed to acquire Quantum Circuits for $550 million.
The transaction will involve $300 million in D-Wave common stock and $250 million in cash and is expected to close in late January.
"Together with Quantum Circuits, we expect that D-Wave will leapfrog the industry, bringing gate-model products and services to market in 2026 and rapidly progressing our dual-platform strategy of delivering annealing and gate-model systems to address customers' full breadth of computational problems.", said Dr. Alan Baratz, CEO of D-Wave.
In pre-market activity, QBTS shares were trading at $31.42, up 0.48% on the New York Stock Exchange.
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