IonQ Strikes up to $1.3 Billion Deal to Buy Cybersecurity Firm Elisity

12:20 PM EDT, 10/12/2026 (MT Newswires) -- IonQ (IONQ) has agreed to acquire cybersecurity firm Elisity in an all-stock deal worth up to $1.3 billion, as the quantum computing company looks to prepare for attacks from future quantum computers. The consideration includes up to $150 million in milestone payments, IonQ said Monday. The company will issue shares at closing depending on its average share price, which must be between $33.07 and $49.61. The transaction, which requires approval from regulators, is expected to complete in the fourth quarter. IonQ's stock plunged 10% in Monday trading, taking its year-to-date loss to 20%. IonQ said the combined platform will protect against current large language model and emerging quantum threats. "Q-Day is coming much faster than predicted," IonQ Chief Executive Niccolo de Masi said in the statement, referring to a point when quantum computers become powerful enough to break public-key encryption used to secure digital communications, identities and transactions. "Elisity will bring proven enterprise policy enforcement scale and deployment experience to our quantum security strategy and will give IonQ a strong growth platform to serve customers and create value for our shareholders," de Masi said. Elisity will continue operating under its current leadership, including CEO James Winebrenner, IonQ said. "With IonQ, we will be optimally positioned to partner with them to modernize their crypto-agility programs, accelerate post-quantum cryptography capabilities while advancing their holistic Zero Trust posture and deploy hybrid-cybersecurity solutions today that are prepared for the quantum future," Winebrenner said in the statement. Wedbush Securities described the deal as a "sensible channel play" for IonQ that extends its security assets amid a recent flurry of cybersecurity merger and acquisition activity. The all-stock structure makes sense given IonQ's cash needs, but an estimated $1.15 billion in upfront consideration implies about 23 million to 35 million new shares, adding to dilution concerns, analyst Matt Bryson wrote in a note. Last month, IonQ said it expects its full-year 2026 revenue of $450 million to $460 million, reflecting contributions from chipmaker SkyWater Technology, which it acquired at the end of July. The consensus on FactSet is for $445.3 million. Last year, the company completed the purchase of UK-based quantum computing company Oxford Ionics in a deal worth $1.08 billion. In the broader industry, consulting firm Accenture (ACN) announced three acquisition deals in June worth about $4.18 billion to expand its cybersecurity capabilities. In March, Alphabet's (GOOG, GOOGL) Google completed its $32 billion acquisition of cloud security platform Wiz. Earlier in the year, Palo Alto Networks (PANW) closed its $25 billion acquisition of identity security vendor CyberArk. Last month, Palo Alto CEO Nikesh Arora said the company expects AI tailwinds driving cybersecurity demand to intensify in the future. In late August, CrowdStrike (CRWD) raised its full-year net new annual recurring revenue outlook amid increasing demand for cybersecurity solutions to address AI risks. Price: 36.18, Change: -3.71, Percent Change: -9.30