IonQ to Acquire Zero Trust Security Firm Elisity in $1.3B All-Stock Deal
IONQ sits 41% above its 52-week low of $25.89.
Summary
IonQ agreed to acquire Zero Trust security company Elisity in an all-stock deal valued at up to $1.3 billion, including $150 million in performance-based earnouts, expanding its quantum cybersecurity platform into enterprise microsegmentation.
Key Events · M&A and Partnerships · IONQ
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$1.3B Elisity Acquisition Signed
IonQ entered a definitive merger agreement on October 9, 2026 to acquire Elisity, Inc., a Zero Trust security company, in an all-stock transaction valued at up to $1.3 billion including earnouts.
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Closing Consideration Structure
$1.15 billion in IonQ common stock at closing, with the share count based on a 20-day VWAP capped at $49.61 and floored at $33.07 per share — at today's $36.52 price, roughly 31.5 million new shares.
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$150M Revenue-Based Earnout
Elisity securityholders can earn up to $150 million in additional IonQ shares based on revenue milestones from August 1, 2026 through January 31, 2028, split into two $75 million tranches.
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$100M Employee Retention Pool
IonQ will grant $100 million in RSUs to Elisity continuing employees, vesting 25% on the first anniversary and quarterly thereafter over four years, in addition to the merger consideration.
Analysis · IONQ · Technology
IonQ is paying up to $1.3 billion in stock for Elisity, a Zero Trust cybersecurity company, extending its quantum security push into enterprise microsegmentation. The deal is structured as $1.15 billion in closing consideration plus up to $150 million in revenue-based earnouts, with the share count tied to a 20-day VWAP capped at $49.61 and floored at $33.07. At today's $36.52 price, the closing consideration alone implies roughly 31.5 million new shares — meaningful dilution for existing holders, though the collar protects both sides from extreme price swings. This is IonQ's second major acquisition in three months after closing SkyWater Technology in August, signaling an aggressive M&A-driven expansion strategy. The earnout structure shifts some risk to Elisity's securityholders, but the $100 million retention pool for key employees adds another layer of stock-based compensation on top of the purchase price.
How filings like this one have moved
In the 30 days to Oct 13, 2026, 44.4% of the 297 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, IONQ was trading at $36.52 on NYSE in the Technology sector, with a market capitalization of approximately $14.7B. The 52-week trading range was $25.89 to $84.64. This filing was assessed with neutral market sentiment and an importance score of 9 out of 10.