Key facts
- The FTC has approved IonQ's $1.8 billion acquisition of SkyWater Technology.
- The approval came after a 1-1 split among FTC commissioners on whether to impose conditions.
- FTC Chair Andrew Ferguson proposed conditions to protect competition and ensure fair access for rivals.
- Commissioner Mark Meador believed the merger would not harm competition.
- SkyWater will continue to serve customers as a U.S.-based semiconductor foundry under IonQ's ownership.
- The transaction is expected to close on July 31, 2026.
The U.S. Federal Trade Commission has given the green light for quantum computing company IonQ's $1.8 billion acquisition of semiconductor foundry SkyWater Technology. The decision came after a deadlock within the FTC, with commissioners unable to agree on imposing conditions for the deal.
FTC Chair Andrew Ferguson had proposed measures to ensure fair access for rival quantum computing companies to SkyWater's manufacturing capabilities, aiming to protect competition as the U.S. expands its chip production. However, Commissioner Mark Meador stated his belief that the merger would not negatively impact competition.
With the two commissioners unable to reach a consensus on an order to set conditions, the FTC decided to allow the merger to proceed without modifications. SkyWater, described as the largest exclusively U.S.-based semiconductor foundry, will continue to serve its existing customer base as a wholly owned subsidiary of IonQ.
The companies anticipate closing the transaction on July 31, 2026, following the satisfaction of all regulatory approvals and other closing conditions. This acquisition is expected to enable IonQ to accelerate its quantum computing roadmap and secure its domestic supply chain.