College Park quantum computing company IonQ Inc. (NYSE: IONQ) has acquired a Toronto software startup in a deal its CEO says will accelerate its growth by allowing quantum computers to better communicate with one another.
The deal for Entangled Networks Ltd., announced Wednesday, is the first ever for IonQ, which was founded by a couple of university professors in 2015 and went public in 2021 via a merger with a special purpose acquisition company.
IonQ ionizes atoms of a rare Earth element, ytterbium, as a method to entangle or superposition those particles to potentially gain significantly more computing power from them. The acquisition of Entangled Networks provides IonQ with the software solution to connect quantum computers and create supercomputers, said President and CEO Peter Chapman.
“This particular acquisition is about how we scale quantum computing,” said Chapman, who declined to disclose terms of the deal. “At some point no matter what the technology, you just can’t…
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