IonQ to acquire cybersecurity firm Elisity in a deal worth up to $1.3 billion

Summary

• The transaction: Quantum computing company IonQ has entered into a definitive agreement to acquire cybersecurity firm Elisity in an all-stock transaction valued at up to $1.3 billion, including up to $150 million in performance-based earn-outs.
• Preparing for quantum-era threats: The acquisition combines IonQ’s quantum security capabilities with Elisity’s zero-trust cybersecurity platform, targeting enterprise security needs as organizations prepare for future quantum-related risks.
• Expanding enterprise security: Elisity brings an identity-based microsegmentation platform and more than 100 customer deployments worldwide, complementing IonQ’s strategy to expand across quantum computing, networking, and cybersecurity.

COLLEGE PARK, Maryland, October 12, 2026 — Quantum computing company IonQ Inc. has entered into a definitive agreement to acquire enterprise cybersecurity firm Elisity Inc. in an all-stock transaction valued at up to $1.3 billion, expanding its enterprise security business and strengthening its strategy to address emerging cybersecurity challenges associated with advances in quantum computing.

The proposed transaction includes up to $150 million in performance-based earn-outs linked to specified business milestones. The number of IonQ common shares to be issued will be calculated using a volume-weighted average price, subject to a collar ranging from $33.07 to $49.61 per share.

The acquisition is expected to close in the fourth quarter of 2026, subject to required regulatory approvals and customary closing conditions. The agreement remains pending until the transaction is completed.

Founded in 2019, Elisity develops an identity-based microsegmentation platform that helps organizations manage network access across information technology (IT), operational technology (OT), Internet of Things (IoT) devices, and enterprise workloads. According to the companies’ transaction announcement, Elisity has more than 100 customer deployments worldwide, providing IonQ with an established enterprise cybersecurity presence.

Preparing for harvest now, decrypt later threats

The acquisition comes as organizations assess the long-term implications of quantum computing for existing encryption systems. One major concern is the harvest now, decrypt later (HNDL) threat, in which attackers collect and store encrypted information today in the hope of decrypting it in the future using more powerful computing capabilities.

Widely deployed public-key cryptographic systems, including those based on RSA and elliptic-curve cryptography (ECC), could be vulnerable to sufficiently capable quantum computers. However, the timeline for developing machines capable of breaking these systems at scale remains uncertain.

IonQ intends to combine its quantum security technologies with Elisity’s zero-trust capabilities to address complementary aspects of enterprise cybersecurity. Post-quantum cryptography (PQC) is designed to protect information against attacks from future quantum computers, while identity-based microsegmentation restricts unauthorized communications within enterprise networks.

Microsegmentation can reduce the ability of attackers to move laterally after compromising an initial device or system. It does not, however, independently prevent the future decryption of encrypted data that has already been intercepted. Organizations facing HNDL risks must also assess their cryptographic systems, protect sensitive information, and plan migrations to appropriate post-quantum standards.

IonQ Chief Executive Officer Niccolo de Masi has positioned the transaction as part of the company’s broader effort to expand its security offerings and help customers prepare for the quantum era. The acquisition could provide IonQ with additional enterprise relationships through which to introduce complementary cybersecurity and cryptographic products.

From quantum hardware to enterprise security

The proposed Elisity acquisition complements IonQ’s broader strategy to expand beyond quantum computing hardware into quantum networking, cybersecurity, and semiconductor manufacturing.

IonQ’s earlier acquisition of SkyWater Technology expanded its capabilities in semiconductor manufacturing and related technologies. Elisity would add an established enterprise security platform, creating opportunities to connect quantum security offerings with network access controls used by corporate and government customers.

The combined strategy has three principal components:

Quantum hardware and manufacturing: IonQ develops trapped-ion quantum computing systems and has expanded its semiconductor manufacturing capabilities through SkyWater Technology.

Cryptographic protection: IonQ’s quantum networking and security initiatives include technologies intended to support secure communications and the transition toward quantum-resistant protection.

Enterprise network enforcement: Elisity’s identity-based microsegmentation platform helps security teams apply least-privilege access policies to users, devices, applications, workloads, and other network entities.

The companies expect the combination to create opportunities for cross-selling, strengthen relationships with enterprise security teams, and support the development of integrated security products. Potential applications include improving visibility into cryptographic dependencies and helping organizations prioritize security upgrades.

These benefits remain prospective. Their realization will depend on regulatory approval, successful integration, customer adoption, and the technical and commercial execution of the combined product strategy.

Why this matters

• Revenue diversification: Elisity adds an established enterprise cybersecurity business to IonQ’s portfolio, potentially broadening its revenue base beyond quantum computing hardware and research and development.
• Enterprise customer access: Elisity’s existing customer deployments and security relationships could give IonQ additional channels for introducing its quantum networking and cryptographic offerings.
• Improved network containment: Identity-based microsegmentation can limit unauthorized access and lateral movement, strengthening conventional security controls against intrusions and data exfiltration.
• Quantum-readiness planning: The transaction highlights the need for enterprises and government agencies to assess cryptographic vulnerabilities and prepare for post-quantum security standards.
• Integration and execution risks: The proposed deal’s value depends on closing the transaction, retaining customers, integrating technologies, and delivering commercially viable products.

FAQs

Q1. What does Elisity specialize in?

Elisity develops an enterprise zero-trust security platform based on identity-aware microsegmentation. Its technology helps organizations manage communications between users, devices, applications, and workloads, reducing unnecessary network access and limiting the potential spread of cyberattacks.

Q2. How does the $1.3 billion acquisition agreement work?

IonQ has agreed to acquire Elisity in an all-stock transaction valued at up to $1.3 billion, including up to $150 million in performance-based earn-outs. The share calculation is subject to a price collar between $33.07 and $49.61 per IonQ share. The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approval and other customary conditions.

Q3. What is the harvest now, decrypt later cybersecurity threat?

HNDL is an attack strategy in which adversaries collect encrypted information today and retain it for possible decryption in the future. It poses a particular concern for government records, intellectual property, financial information, and other sensitive data that must remain confidential for many years. Post-quantum cryptography and strong data protection practices can help organizations prepare for this risk.