Quantum computing company IonQ agreed to acquire Elisity, a Zero Trust cybersecurity firm, in an all-stock deal valued at up to $1.3 billion. The merger agreement is dated October 9, 2026 and was announced October 12.
According to the SEC filing, closing consideration is $1.15 billion in IonQ shares, with the share count set by a 20-day VWAP capped at $49.61 and floored at $33.07 per share. Up to $150 million more in shares depends on Elisity revenue milestones through January 31, 2028.
IonQ says the deal pairs its post-quantum cryptography and quantum key distribution work with Elisity's platform, which has more than 100 enterprise deployments. It is IonQ's latest large acquisition after Oxford Ionics in 2025.