• Virginia-based quantum computing software company Quantum Computing Inc. (QCI) has signed a definitive agreement with New Jersey-based quantum photonics company QPhoton, making QCI a full-stack quantum computing company.

• The transaction is expected to close in 2H 2022, upon which the consideration, which has not been finalized yet, will be paid in 5.8 million QCI common shares, 2.4 million QCI preferred shares convertible into 23 million common shares, and warrants to purchase upto 7 million common shares at a rate of USD 0.0001 per share.

• Through the transaction, QCI will combine QPhoton’s quantum photonic systems (QPS) that can operate in room-temperature, with QCI’s flagship quantum application accelerator platform Qatalyst that is hardware-agnostic, to offer full-stack photonic systems. Both parties believe the combination will enable non-quantum experts to leverage quantum technology for real-world applications and accelerate the practical adoption of the technology. 

<ul><li> Analyst QuickTake: This acquisition is an extension of the company’s partnership with QPhoton entered into in February 2022 , which intended to develop a solution (expected to release in Q4 2022) combining the hardware and software expertise of Qphoton and QCI, respectively. The acquisition has been initiated by both parties to leverage the synergies on a broader level. Less than a year before, QCI became one of the few pure-play quantum software companies to get listed on the Nasdaq .</ul>