IonQ, Inc. (NYSE: IONQ), a quantum computing, networking and security company, announced on November 4, 2026 that it has completed its acquisition of Elisity, Inc., a Zero Trust security company, in an all-stock transaction. On the same day, IonQ also announced a partnership with QuantumCT, Connecticut’s statewide quantum initiative, to give the state’s researchers and businesses access to its quantum computers.

What IonQ Gets With Elisity

Under the merger agreement, IonQ issued $1.15 billion of consideration in common stock at closing. In addition, Elisity’s sellers can earn up to $150 million more based on Elisity’s performance against revenue milestones through January 2028. As a result, the total value reaches the $1.3 billion figure IonQ cited when it first announced the deal in October.

Elisity helps organizations identify the devices and users on their networks and enforce identity-based access rules, an approach known as Zero Trust. IonQ plans to pair that platform with its own post-quantum cryptography (PQC) and quantum key distribution (QKD) products. When it announced the agreement in October, IonQ said Elisity had more than 100 global customer deployments and had doubled its revenue and customer base year over year, with no churn among deployed customers.

Elisity will continue to serve its customers under its current leadership, including CEO James Winebrenner. “With the acquisition complete, IonQ now brings together post-quantum cryptography, quantum key distribution, and Zero Trust security in a single platform for the organizations that depend on it most,” said Niccolo de Masi, Chairman and CEO of IonQ.

Connecticut Buys Time on IonQ Systems

The QuantumCT agreement covers a different part of IonQ’s business. Under the deal, QuantumCT will purchase access to IonQ’s trapped-ion quantum computers on behalf of Connecticut-based universities, research labs, startups and enterprises. The contract includes more than 150 hours of cloud runtime.

The University of Connecticut and Yale University anchor QuantumCT, with support from industry, government and academic partners. Participating organizations will focus on quantum algorithms, optimization, materials science and workforce development. “Regional quantum ecosystems thrive when researchers and innovators have access to advanced quantum computers,” said Scott Millard, Chief Business Officer of IonQ.

QuantumCT also described its broader plans. Specifically, it intends to build a computing environment that offers access to several types of quantum hardware, so users can match each technology to the right problem. Vivek Ramakrishnan, QuantumCT’s interim CEO, called the IonQ agreement “an important part of that strategy.”

How the Deals Fit IonQ’s Expansion

Elisity is IonQ’s second major acquisition in recent months. On July 31, the company closed its purchase of semiconductor foundry SkyWater Technology, and in September it raised its full-year 2026 revenue outlook to between $450 million and $460 million, including SkyWater’s contribution from July 31 onward.

Because the Elisity deal is all-stock, IonQ paid the closing consideration entirely in shares. Meanwhile, IonQ raised fresh capital in October through an underwritten offering of common stock, pre-funded warrants and Series C warrants at a combined price of $40.00. The company estimated net proceeds of about $1.99 billion, excluding any warrant exercises, and said it may use a portion for strategic acquisitions and partnerships.

IonQ has also linked the Elisity deal to federal policy. When it announced the agreement, the company pointed to a June 22, 2026 White House executive order and other directives that accelerate the federal government’s migration to post-quantum cryptography. Taken together, the two November 4 announcements extend IonQ’s reach into both enterprise security and regional research markets.

Strategic Investment Summary

• Acquisition Closed: IonQ (NYSE: IONQ) completed its all-stock acquisition of Elisity on November 4, 2026, issuing $1.15 billion of consideration in common stock.
• Earnout: Elisity’s sellers can earn up to $150 million more based on revenue milestones through January 2028.
• Security Platform: The deal combines IonQ’s post-quantum cryptography and quantum key distribution with Elisity’s Zero Trust technology.
• QuantumCT Partnership: Connecticut’s statewide quantum initiative will buy more than 150 hours of cloud runtime on IonQ’s quantum computers.
• Revenue Outlook: IonQ expects full-year 2026 revenue of $450 million to $460 million, including SkyWater.
• Capital: An October offering brought estimated net proceeds of about $1.99 billion, excluding warrant exercises.

Find out more about the latest corporate developments and financial reports at the IonQ investor portal.

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