IonQ announced on October 12, 2026, that it has entered into a definitive agreement to acquire Zero Trust security company Elisity, Inc. in an all-stock transaction valued at up to $1.3 billion. The acquisition combines IonQ's post-quantum cryptography tools with Elisity's enterprise Zero Trust platform.
Transaction Details
IonQ stated that the all-stock transaction is valued at up to $1.3 billion, which includes up to $150 million in earnout opportunities dependent on the performance of the Elisity business. The final number of IonQ shares issued will be calculated based on the volume-weighted average price for the 20 trading days prior to, but not including, the third business day before the closing date, with a share price bounded between $33.07 and $49.61.
According to the announcement, the transaction is expected to close in the fourth quarter of 2026, pending customary closing conditions and regulatory approvals. Following the close, Elisity will continue to operate under its current leadership, including CEO James Winebrenner.
Combining Quantum and Zero Trust
IonQ said the acquisition pairs its post-quantum cryptography (PQC) and quantum key distribution (QKD) capabilities with Elisity's Zero Trust technology platform. The combined platform is intended to help enterprise and government customers address current cyber threats—including those involving AI agents—while preparing for the quantum era.
Elisity brings an established customer base with more than 100 global deployments and its IdentityGraph technology, which integrates asset identity and risk information to inform least-privilege access policies. IonQ Chairman and CEO Niccolo de Masi stated that the deal will provide a strong growth platform to help customers protect critical infrastructure and enterprise networks during the transition to the quantum era.
Key facts and where they come from
- IonQ entered into a definitive agreement to acquire Elisity, Inc. in an all-stock transaction valued at up to $1.3 billion.
entered into a definitive agreement to acquire Elisity, Inc., a Zero Trust security company, in an all-stock transaction valued at up to $1.3 billion.
- The transaction includes up to $150 million in earnout opportunities based on Elisity's business performance.
including up to $150 million in earnout opportunity subject to performance of the Elisity business.
- The acquisition is expected to close in the fourth quarter of 2026.
The transaction is expected to close in the fourth quarter of 2026 and is subject to customary closing conditions, including receipt of required regulatory approval.
