Horizon Quantum Holdings announced on November 5, 2026, that it has signed a non-binding letter of intent to acquire Singapore-based quantum software company Entropica Labs for an anticipated $27 million in stock.
Terms of the proposed transaction
Under the non-binding letter of intent, Horizon Quantum Holdings Ltd. (Nasdaq: HQ) plans to acquire Entropica Labs Pte. Ltd. for an anticipated consideration of $27 million USD of Horizon Quantum Class A ordinary shares.
Horizon Quantum stated that the proposed acquisition remains subject to due diligence, related audits, the execution of definitive agreements, shareholder approval from Entropica Labs, and other customary closing conditions.
Focus on fault tolerance and software tools
Entropica Labs was founded in 2018 by Dr. Tommaso Demarie and Dr. Ewan Munro, former researchers at the Centre for Quantum Technologies in Singapore. The company focuses on error correction and fault tolerance software infrastructure, developing Loom, a fault-tolerant compiler that allows quantum hardware providers to run error-corrected programs without creating the full software stack.
Horizon Quantum was founded in 2018 by Dr. Joe Fitzsimons to develop software infrastructure for quantum computing applications. Its product portfolio includes Triple Alpha, an integrated development environment designed to enable developers to build hardware-agnostic quantum programs at multiple levels of abstraction.
Key facts and where they come from
- Horizon Quantum signed a non-binding letter of intent to acquire Entropica Labs.
signed a non-binding letter of intent to acquire Entropica Labs Pte. Ltd.
- The transaction valuation is expected to be $27 million USD in Horizon Quantum Class A ordinary shares.
anticipated consideration of $27 million USD of Horizon Quantum Class A ordinary shares
- Entropica Labs is developing a fault-tolerant compiler named Loom.
developing Loom, a fault-tolerant compiler that is designed to let quantum hardware companies run error-corrected programs
- Horizon Quantum provides the Triple Alpha integrated development environment.
integrated development environment, Triple Alpha, enables developers to write sophisticated, hardware-agnostic quantum programs
