IonQ, Inc. IONQ announced Friday that it has received regulatory approval from the United Kingdom's Investment Security Unit for its planned acquisition of Oxford Ionics.
The clearance fulfills all deal conditions, setting the stage for the transaction to be finalized soon.
According to Benzinga Pro, IONQ stock has gained over 537% in the past year.
Investors can gain exposure to the stock via Tidal Trust II YieldMax Ultra Option Income Strategy ETF ULTY.
Earlier this month, the Maryland-based quantum computing firm also launched a new unit, IonQ Federal, to consolidate its quantum networking and computing services for the U.S. government and allied partners.
The creation of IonQ Federal marks a significant step in aligning the company's expertise with the growing demand for advanced quantum technologies in defense and security.
The division is designed to streamline the delivery of IonQ's proprietary hardware and software to agencies with national security mandates. According to the company, it has already secured more than $100 million in government contracts, including projects with the U.S. Air Force Research Lab, DARPA, Oak Ridge National Laboratory, and ARLIS.
To steer the new division, Robert Cardillo has been named executive chairman of IonQ Federal while continuing to serve on IonQ's board of directors.
Cardillo previously directed the National Geospatial-Intelligence Agency and advised the U.S. president on intelligence. His decades of experience in national security and close familiarity with IonQ's technology are expected to support the rapid expansion of the federal business.
Cardillo emphasized the importance of advancing interoperability standards in quantum computing and networking for the U.S. and its allies.
He said the new division will give agencies faster access to quantum-based solutions for complex defense challenges.
Chairman and CEO Niccolo de Masi added that the company is positioning itself to deliver quantum advantage at scale across key federal programs.
Price Action: IONQ shares are trading higher by 15.71% to $54.32 at last check on Friday.
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