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IonQ heads towards a SPAC for $2bINTL

IonQ heads towards a SPAC for $2b

Alas, another SPAC announcement — this time, quantum computing hardware and software company IonQ Inc is jumping on the bandwagon. It announced it is going to go public via a merger deal with a blank check firm, and the new entity is set to have a market cap of $2b.

While IonQ may not be the most well-known firm in the quantum computing space (compared to IBM and Microsoft’s Azure Quantum), it is backed by some pretty big investors such as Silver Lake and Hyundai Motor Co.

The Maryland-based company has also previously partnered with tech giants like Amazon’s Web Service.

why it matters
Now is as good as time as ever for IonQ to go public as its IPO will benefit from the trend in upward valuations taking place in the tech world, unlocking further funds to grow within the quantum computing sphere.