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    Home»Business»British quantum computing start-up spun out of Oxford University snapped up by US rival in £800m deal
    Business

    British quantum computing start-up spun out of Oxford University snapped up by US rival in £800m deal

    June 10, 20252 Mins Read
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    By CITY & FINANCE REPORTERS FOR THE DAILY MAIL

    Updated: 22:13 BST, 9 June 2025

    A British quantum computing start-up spun out of Oxford University has been snapped up by a US rival.

    Oxford Ionics agreed to an £800million takeover by Maryland-based quantum computing firm IonQ.

    Set up in 2019 by Oxford University physicists Chris Ballance and Tom Harty, Oxford Ionics is trying to develop one of the most accurate quantum computing machines. 

    The group’s founders and 80 staff will join IonQ when the deal is done.

    Oxford Ionics investors include British hedge fund Lansdowne Partners and Hermann Hauser, the founder of Cambridge-based chip giant Arm. 

    Ballance said: ‘We’re tremendously excited to work alongside the teams at IonQ.’

    US deal: Oxford Ionics, Set up in 2019 by Oxford University physicists Chris Ballance (pictured) and Tom Harty, agreed to an £800m takeover by Maryland-based IonQ

    US deal: Oxford Ionics, Set up in 2019 by Oxford University physicists Chris Ballance (pictured) and Tom Harty, agreed to an £800m takeover by Maryland-based IonQ

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    British quantum computing start-up spun out of Oxford University snapped up by US rival in £800m deal



    This article was originally published by a www.dailymail.co.uk . Read the Original article here. .

    800m British computing dailymail deal Money moneymarkets Oxford quantum rival snapped spun startup University
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