Quantum computing company IonQ will acquire chipmaker SkyWater Technology for $1.8 billion, according to a report from the Wall Street Journal.

In comments made to the news outlet, chairman and CEO Niccolo de Masi said the deal would create a first-of-its-kind “vertically integrated quantum platform business,” allowing the company to speed up manufacturing timelines and cut costs.

SkyWater was founded in 2017 when private equity firm Oxbow Industries acquired Cypress Foundry Solutions, a former subsidiary of Cypress Semiconductor. Based in Bloomington, Minnesota, the pure-play foundry manufactures chips for the quantum, defense, and aerospace industries. The company filed an initial public offering with the US Securities and Exchange Commission in March 2021.

Following the closure of the deal, SkyWater will continue to operate as a wholly owned subsidiary under its existing name and remain as a neutral foundry, but will be able to offer IonQ’s products to its own customers. SkyWater CEO Thomas Sonderman will lead the unit and report to de Masi.

The acquisition is the fourth undertaken by the company since mid-2025, with IonQ completing its purchase of photonic interconnect and quantum memory company Lightsynq in June of last year, following its acquisition of Capella Space the month prior. In September 2025, IonQ completed its acquisition of Oxford Ionics for $1.08bn.

Founded in 2015, IonQ develops quantum systems with trapped ion technology. The company raised $2 billion through an equity offering in October 2025 via the sale of 16.5 million shares at $93 each to an entity managed by investor Heights Capital Management. Two months prior, Amazon disclosed a $36.7 million stake in the company, a figure that represents the ownership of 854,207 shares.