Terra Quantum and Axiom Intelligence Acquisition Corp 1 has executed a definitive business combination agreement (BCA) that will result in Terra Quantum becoming a publicly listed company.
Upon completion of the transaction, the combined company will operate under the Terra Quantum name and is expected to trade on the Nasdaq Stock Market under the ticker symbol “TQ.”
The transaction values Terra Quantum at an equity value of approximately $3.5 billion, representing an increase from the valuation contemplated under the company’s previously announced non-binding letter of intent with another special purpose acquisition company.
The enhanced valuation reflects Terra Quantum’s continued commercial growth, expanding strategic partnerships, and ongoing development of its quantum technology platforms.
Headquartered in St. Gallen, Terra Quantum has established itself as a leading quantum technology company through its unique combination of proprietary quantum algorithms, quantum security solutions, hybrid quantum-classical computing technologies, and enterprise-grade software platforms.
The company serves customers across financial services, manufacturing, pharmaceuticals, logistics, energy, government, and defense sectors, helping organizations solve computationally intensive problems that were previously impractical or impossible to address using conventional approaches.
“Becoming a publicly traded company will provide us with enhanced resources and visibility to accelerate innovation, expand globally, and further strengthen our position as a market leader in the quantum industry,” said Markus Pflitsch, founder and CEO of Terra Quantum.
“We believe quantum computing will fundamentally reshape industries, economies, and national competitiveness over the coming decades,” said Pflitsch. “Terra Quantum believes it is uniquely positioned to lead this transformation through our technology platform, commercial focus, and commitment to making quantum solutions accessible and impactful for enterprises worldwide.”
Doug Ward, CEO of Axiom, said Terra Quantum is one of the most advanced and commercially focused quantum technology companies globally.
“Our technology platform represents years of pioneering research and development by a highly experienced team of quantum scientists,” said Florian Neukart, CTO of Terra Quantum.
“By becoming a public company, we expect to have enhanced resources to continue pushing the boundaries of what is possible with quantum computing while delivering practical solutions that create measurable value for our enterprise customers today. We are entering an exciting new phase of growth and innovation,” said Neukart.
The boards of directors of both Terra Quantum and Axiom have unanimously approved the proposed transaction.
Following the closing of the business combination, the combined company will continue to be led by Terra Quantum’s existing management team, including Markus Pflitsch, Eike Marx (CFO and chief strategic officer) and Neukart.
The transaction is expected to provide Terra Quantum with access to the public capital markets and additional financial flexibility to support. These include continued investment in research and development; expansion of enterprise sales and customer success capabilities; strategic acquisitions and partnerships; growth of its quantum security and quantum computing platforms; and geographic expansion across North America, Europe, the Middle East, and Asia-Pacific.
