Quantum Computing, Inc. (NASDAQ: QUBT) is engaged as a quantum computing services company, which aims to leverage its advanced technology for real-world business solutions. Qatalyst, the company’s flagship product, is the first software to successfully bridge classic and quantum computing. Shares of the advanced computing company are rallying 27% through early trading on Tuesday, May 24, 2022. Over the past three months, Quantum Computing has seen average daily volume of 119,060 shares. However, volume of 752,294 shares or dollar volume of around $1.49 million, has already exchanged hands through early trading.
Shares of Quantum Computing are gaining after the company announced that it has entered into a definitive agreement to acquire QPhoton, a quantum photonics innovation company. The acquisition will expand QUBT’s services and solutions to increase the accessibility of advanced computing technologies.
Unlike other quantum computing solutions, QPhoton’s quantum photonic systems (QPS) can be operated at room temperature and can remain stable is a variety of working environments. Other competitors require the need for costly and complex hyper-cooled and controlled environments in order for their technology to properly operate. The QPS is designed to be easily deployed and offer strong advantages over other alternatives, while still providing the same advantages.
QPhoton’s QPS is an effective complement to Quantum Computing’s Qatalyst software. The combination will provide greater accessibility and affordable solution that can be utilized by non-quantum experts.
Under the terms of the acquisition agreement, Quantum Computing will issue shares to stockholders of QPhoton: 5,802,206 shares of QUBT common stock, 2,377,028 shares of a new series preferred stock, which will be convertible into 23,770,280 shares of common stock of QUBT. QPhoton stockholders will also receive warrants exercisable at a purchase price of $0.001 per share to buy up to an additional 7,028,337 shares of common stock. The transaction is estimated to close sometime during the second half of 2022.
“This acquisition is key to QCI delivering on its commitment to be the democratizing force that empowers non-quantum experts to realize quantum value,” stated Robert Liscouski, CEO of QCI. “The combination of QPhoton’s powerful quantum processing technology and systems with QCI’s Qatalyst software significantly accelerates accessibility to quantum solutions for real business problems. Just a year ago this quantum functionality seemed far off. QCI, with QPhoton’s technology, will be launching ready-to-run anywhere, full-stack quantum systems that can deliver affordable, user-friendly solutions for real business problems to a much larger audience.”
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