Cookie Consent by Free Privacy Policy Generator
Search
Close this search box.

IonQ Acquires Assets of Entangled Networks

IonQ Entangled Networks logo

Insider Brief

  • Networked Quantum Computers: IonQ Acquires Assets of Entangled Networks
  • Entangled Networks is a Toronto-based company focused on enabling computation across multiple distributed quantum processors
  • IonQ representatives say that the acquisition supports  efforts to build large-scale quantum computers by enabling
    computation across multiple distributed quantum processors

PRESS RELEASE — IonQ, Inc., announced its acquisition of the operating assets of Entangled Networks Ltd., a Toronto-based company focused on enabling computation across multiple distributed quantum processors. As part of the transaction, the Entangled Networks team will join IonQ to launch IonQ Canada, strengthening IonQ’s already growing international presence.

This is IonQ’s first corporate acquisition, demonstrating ongoing market and industry leadership.

Classical supercomputers are made by putting as many cores as possible onto a single processor, and then networking those processors/computers together. Applications are divided across multiple cores and processors to distribute the workload, with networking used to communicate between the various processors.

For quantum computing to scale significantly, they need to follow a similar model. Future quantum computers will need to be built from multiple processors and networked together. But unlike classical networking, quantum computers allow entanglement across cores to form a single, much large quantum computer. Quantum computers use the network for computation, not communication.

The acquisition of Entangled Networks further realizes IonQ’s goal of developing quantum systems capable of supporting the quantum networks of the future. IonQ’s own quantum networking hardware is currently under development, and IonQ expects to demonstrate an early version of a quantum network between two quantum computers in 2023.

“We believe IonQ is a clear market leader, both commercially and in system performance, which is why our team is so excited to join forces,” said Aharon Brodutch, co-founder and CEO of Entangled Networks. “We are ready to work on amplifying IonQ’s quantum computing solutions to bring even more powerful applications to our customers.”

“Partnering with Entangled Networks furthers our goal of making IonQ the world’s best performing quantum computing company,” said Peter Chapman, IonQ’s President and CEO. “In acquiring the Entangled Networks assets, IonQ will benefit from not only some of the top experts in quantum architecture, but also from software tools that we intend to use to drive substantial speed-ups in our system performance. We are also excited about the opening of IonQ Canada. This expansion will help us better support the thriving quantum computing community in Canada and further our collaborations with IonQ partners and customers.”

Following a year in which the quantum industry experienced tremendous growth, technological advancements, and outside investments, IonQ has positioned itself as a leader in the field for delivering powerful and commercially-available quantum systems. Additionally, IonQ’s strong financial standing has attracted some of the brightest minds from around the world, assisting in our goal of achieving industry-first quantum research, hardware and software achievements.

IonQ is best known for its industry-leading hardware, including IonQ Aria, the most powerful known quantum computer in the world with 25 algorithmic qubits. Aria is publicly available via Microsoft Azure and Dell Hybrid Quantum Computing Solution. More recently, IonQ has established a dominant position in quantum software as well, boasting applications partnerships with customers like Airbus, GE, Dow Chemistry and Hyundai Motors, and contracts with the United States Air Force Research Laboratory and the University of Maryland.

IonQ trades on the New York Stock Exchange (NYSE) as IONQ.

If you found this article to be informative, you can explore more current quantum news here, exclusives, interviews, and podcasts.

The Future of Materials Discovery: Reducing R&D Costs significantly with GenMat’s AI and Machine Learning Tools

When: July 13, 2023 at 11:30am

What: GenMat Webinar

Picture of Jake Vikoren

Jake Vikoren

Company Speaker

Picture of Deep Prasad

Deep Prasad

Company Speaker

Picture of Araceli Venegas

Araceli Venegas

Company Speaker

Matt Swayne

With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses. [email protected]

Share this article:

Keep track of everything going on in the Quantum Technology Market.

In one place.

Join Our Newsletter