SkyWater shareholders approve IonQ deal
Stockholders of US semiconductor foundry SkyWater Technology have approved the company's merger agreement with quantum computing company IonQ, clearing a key hurdle in a USD 1.8 billion acquisition announced in January.
The vote took place at a virtual special meeting on May 8, where approximately 67% of eligible shares were represented. The merger proposal passed with overwhelming support. The deal is expected to close in the second or third quarter of 2026, subject to remaining regulatory approvals and customary closing conditions.
Under the terms of the agreement, SkyWater shareholders will receive USD 15 in cash and USD 20.00 in IonQ common stock per share, subject to a collar, implying a total equity value of approximately USD 1.8 billion. Following completion, SkyWater shareholders are expected to own between 4.4% and 6.7% of the combined company.
As previously reported by Evertiq, the acquisition will give IonQ direct access to a US-based, DMEA Category 1 Trusted semiconductor foundry — allowing tighter integration between quantum processor design, fabrication, packaging and testing. SkyWater's facilities in Minnesota, Florida and Texas are expected to serve as regional quantum production hubs.
The company will continue to operate as a wholly owned subsidiary under the SkyWater name, with current CEO Thomas Sonderman remaining in his role.
IonQ has stated that embedded foundry access is expected to reduce wafer iteration times and accelerate its quantum hardware development roadmap.
