IonQ to buy Elisity in $1.3B all-stock deal

Quantum computing company IonQ announced on October 12, 2026, that it has reached a definitive agreement to acquire cybersecurity firm Elisity in an all-stock deal valued at up to $1.3 billion. The transaction includes a maximum earnout consideration of $150 million payable in stock.

The consideration structure uses a 20-trading-day volume-weighted average price with a collar mechanism. Under the agreement, the collar sets a floor price of $33.07 and a ceiling price of $49.61 per IonQ share.

Elisity was founded in 2019 and operates in the microsegmentation market, which has an estimated minimum size of $10 billion. The cybersecurity firm reports at least 100 global customer deployments with a 0% customer churn rate. For fiscal year 2026, Elisity achieved a 100% year-over-year increase in both its customer base and its annual revenue.

The transaction extends a series of major purchases by IonQ, which holds a market capitalization of $16 billion. IonQ previously acquired Oxford Ionics for $1.1 billion in fiscal year 2025 and bought SkyWater Technology for $1.8 billion in January 2026.

IonQ shares closed at $39.89 on October 9, 2026, before falling 2.7% in premarket trading on the day of the announcement.