D-Wave Quantum Inc. has completed its acquisition of Quantum Circuits for a purchase price of $550 million, consisting of $300 million in D-Wave common stock and $250 million in cash.
With this acquisition, D-Wave expects to accelerate its development of its gate-model quantum computer by incorporating Quantum Circuits’ dual-rail qubits that can be used to improve error correction. D-Wave also hopes this will complement its commercial annealing quantum computing systems.
Following the acquisition, Dr. Rob Schoelkopf, co-founder of Quantum Circuits and inventor of transmon and dual-rail qubit technologies, now serves as chief scientist at D-Wave.
He said, “The combination of Quantum Circuits and D-Wave gives us a decisive advantage in gate-model quantum computing, by leveraging D-Wave’s experience with scaling and cryogenic control with our hardware-efficient approach to quantum error correction.”
