The Honeywell Quantum, Cambridge Quantum deal: A look at the big picture
Honeywell Quantum Solutions and Cambridge Quantum made a big splash in quantum computing with plans to merge and form an independent company that combines Honeywell's trapped Ion hardware with Cambridge Quantum's software platforms.
The yet-to-named company will get up to $300 million in investment from Honeywell and be able to court outside investors. When the deal is complete there will be a few quantum companies for investors given IonQ will soon be public via a special purpose acquisition corporation (SPAC) deal. Honeywell has made a big push into quantum computing over the last few years as it looks to expand industrial usage of the technology.
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We caught up with Tony Uttley, president of Honeywell Quantum Solutions, to talk about quantum computing and what's ahead. Ilyas Khan, the CEO and founder of Cambridge Quantum, will be CEO of the new company. Darius Adamczyk, CEO of Honeywell, will be chairman of the new company.
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