Paul, Weiss, Rifkind, Wharton & Garrison LLP along with Foley & Lardner advised on IonQ’s $1.8 billion acquisition of SkyWater Technology.
The combination will create a first-of-its-kind vertically integrated quantum platform delivering innovations for customers across the pharmaceutical, finance, and cloud and enterprise computing industries, among others. Following the close of the transaction, expected by the third quarter of 2026 subject to customary closing conditions, SkyWater will operate as a wholly owned subsidiary under the SkyWater name.
The acquisition was unanimously approved by the boards of directors of both companies and is expected to close in the second or third quarter of 2026, subject to shareholder approval, regulatory approvals, and other customary closing conditions.
Paul, Weiss, Rifkind, Wharton & Garrison LLP advised quantum computing company IonQ on its approximately $1.8 billion cash-and-stock acquisition of SkyWater Technology, a U.S.-based semiconductor foundry.
The Paul, Weiss team is led by Corporate Partners Chelsea Darnell and Robert Kindler and includes Partners Timothy Cruickshank and Tony Rim; Intellectual Property Partner Jonathan Ashtor; Antitrust Partners Scott Sher and Yuni Sobel; Executive Compensation Partner Jean McLoughlin; and Environmental Partner Stefanie Gitler.
Foley & Lardner advised SkyWater Technology on the transaction.
The Foley & Lardner transaction team was led by Partners John Wilson and Mark Plichta, with support from Senior Counsel Eric Lauria-Banta, and Partners Benjamin Dryden, Leigh Riley, Timothy Voigtman, and Erin Toomey.
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