Untypical acquisition: old semiconductor plants for new quantum computers

IonQ wants to acquire chip foundry Skywater for 1.8 billion US dollars to manufacture its own quantum processors in its semiconductor and packaging plants. Such an acquisition is untypical, but shows synergy effects: Skywater offers only old manufacturing technology in Minnesota, Florida, and Texas, now down to 65 nanometers thanks to the acquisition of an Infineon plant. Such feature sizes were current in 2005; currently, chip foundries like TSMC are ramping up 2 nm production. However, coarse structures are perfectly sufficient for quantum processors.

IonQ realizes qubits via ions of Ytterbium or Barium, which are trapped in electrodes on semiconductor substrates (ion traps). Silicon is used as the semiconductor, into which manufacturers integrate waveguides to manipulate the ions via lasers (photonics). Smallest transistors are not important here.

In addition, Skywater could provide expertise for microcontrollers to control the ions directly in the cryostats, where temperatures near absolute zero prevail. The chip foundry already produces semiconductors for use in space.

The boards of IonQ and Skywater have unanimously approved the acquisition. However, shareholders must also accept the offer for the transaction to be completed. Furthermore, the authorities must give the green light. The companies expect completion in the second or third quarter of 2026.

Quantum computers for the military

Skywater's semiconductor plants are so-called Trusted US Fabs. Production is certified, including in the packaging plants where the company performs final assembly of processors, for example.

This allows Skywater to sell its components to the US military. According to the announcement, IonQ is targeting precisely this market: “Upon close, IonQ will have an end-to-end quantum supply chain in the U.S., from design and prototyping through manufacturing, packaging, deployment, and ongoing service upgrades. This will allow IonQ to securely support multiple important Department of War programs, such as the Microelectronics Commons network to support warfighter applications, and address critical national security vulnerabilities.”

With its semiconductor plants, IonQ also hopes for better testing capabilities and shorter development times. Skywater will continue to operate as a chip foundry for external customers. In the future, with a bonus, IonQ also intends to offer certain proprietary quantum building blocks to external customers. Layoffs are not planned.

(mma)