IonQ to Acquire SkyWater Technology for $1.8 Billion

Paul, Weiss is advising quantum computing company IonQ on its approximately $1.8 billion cash-and-stock acquisition of semiconductor foundry SkyWater Technology. The combination will create a first-of-its-kind vertically integrated quantum platform delivering innovations for customers across the pharmaceutical, finance, and cloud and enterprise computing industries, among others. Following the close of the transaction, expected by the third quarter of 2026 subject to customary closing conditions, SkyWater will operate as a wholly owned subsidiary under the SkyWater name.

The Paul, Weiss team is led by corporate partners Chelsea Darnell and Robert Kindler, and includes partners Timothy Cruickshank and Tony Rim; intellectual property partner Jonathan Ashtor; antitrust partners Scott Sher and Yuni Sobel; executive compensation partner Jean McLoughlin; and environmental partner Stefanie Gitler.