D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems and the world's first commercial supplier of quantum computers, has announced a definitive merger agreement to acquire Quantum Circuits Inc., a developer of error-corrected superconducting gate-model quantum computing systems. The total purchase price is $550 million, consisting of $300 million in D-Wave common stock and $250 million in cash. This acquisition aims to establish the world's leading quantum computing company by combining D-Wave's expertise in annealing quantum computing with Quantum Circuits' gate-model technology.
The merger is expected to dramatically accelerate the projected timeline to a scaled, error-corrected gate-model quantum computer. Quantum Circuits' dual-rail technology features built-in error detection, resulting in higher quality qubits and reducing the physical resources needed for logical qubits. By integrating these technologies, D-Wave believes it can be the first to deliver fully error-corrected, scaled gate-model quantum computing. The first deliverable under the accelerated roadmap is an initial dual-rail system, planned for general availability in 2026.
This transaction positions D-Wave as the world's first and only dual-platform quantum computing company, offering both annealing and gate-model systems to address a broader range of computational problems. The combined expertise spans scalable control of superconducting processors and a production-grade quantum cloud platform with 99.9% availability. Over 100 organizations currently use D-Wave's systems, with more than 200 million problems submitted to date.
The acquisition is subject to customary closing conditions and regulatory approvals. The companies expect the transaction to close in the second half of 2025. For more details, the full press release is available at https://ibn.fm/05ZhB.
The move underscores the rapid consolidation in the quantum computing industry as companies race to achieve practical, error-corrected quantum computers. By merging complementary technologies, D-Wave aims to shorten the development timeline and expand the addressable use cases for commercial quantum computing, particularly in optimization, artificial intelligence, and research.
