IonQ to acquire Zero Trust security firm Elisity in all-stock deal valued up to $1.3B

IonQ, Inc.

$1.15B closing consideration in IONQ shares; up to $150M earnout tied to Elisity revenue milestones from Aug 1, 2026 to Jan 31, 2028; plus $100M retention RSU pool vesting over four years.
Share count based on 20-day VWAP before closing, collared between $33.07 and $49.61 per IonQ share; shares issued under Section 4(a)(2)/Reg D exemptions.
Elisity has 100+ global customer deployments, doubles revenue and customer base YoY with zero churn among deployed customers; CEO James Winebrenner continues post-close.
Expected to close in Q4 2026; agreement terminable if closing has not occurred by January 7, 2027; subject to regulatory approvals and NYSE listing of issued shares.
IonQ cites a >$10B microsegmentation market with double-digit CAGR; multiproduct revenue grew 40% YoY in Q2 2026. Deal pairs Elisity Zero Trust with IonQ PQC/QKD.

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