IonQ has struck an all-stock agreement to buy privately held cybersecurity company Elisity in a transaction valued at up to $1.3 billion, The Wall Street Journal reported, citing executives. The companies were expected to announce the deal later Monday.
How the deal is structured
The headline price includes up to $150 million in additional earnouts tied to Elisity's future performance. The number of IonQ shares issued in the transaction is expected to be calculated at a price between $33.07 and $49.61 per share.
Founded in 2019, Elisity offers a platform designed to stop cyber attackers and ransomware from spreading across an organization. Its customers include healthcare companies and hospitals. Elisity CEO James Winebrenner is expected to remain with the business after the acquisition closes.
Why IonQ is buying a cybersecurity company
IonQ builds quantum-computing hardware and software, specializing in trapped-ion systems. Chairman and CEO Niccolo de Masi told the Journal that the acquisition is a bet on cybersecurity becoming more important as quantum computing and AI systems grow more capable.
De Masi said the combined companies plan to address risks that include attacks involving AI agents. He also pointed to the prospect of "Q-Day," the point when quantum computers could become powerful enough to break widely used public-key encryption.
The Elisity purchase would extend IonQ's acquisition push. Earlier in 2026, the company agreed to a $1.8 billion takeover of chipmaker SkyWater Technology. The Journal report did not provide a closing date or regulatory timeline for the Elisity transaction.
