The US Federal Trade Commission has cleared quantum-computing company IonQ’s proposed $1.8 billion acquisition of semiconductor manufacturer SkyWater Technology, allowing the transaction to proceed without additional antitrust conditions.
The regulator granted early termination of its investigation under the Hart-Scott-Rodino Act, ending the mandatory waiting period that applies to major mergers and acquisitions in the United States. The decision indicates that the companies can move towards closing the transaction after completing other applicable requirements.
IonQ announced the cash-and-stock agreement in January 2026 as part of its strategy to bring semiconductor manufacturing capabilities in-house. Under the agreed terms, SkyWater shareholders will receive $15 in cash and $20 in IonQ shares for each share they hold.
The acquisition is expected to strengthen IonQ’s ability to design and manufacture quantum-computing hardware while providing greater control over its supply chain. SkyWater operates semiconductor-manufacturing facilities in Minnesota, Florida and Texas and supplies chips to customers across the aerospace, defence, automotive and industrial markets.
SkyWater will become a wholly owned subsidiary of IonQ following completion of the transaction. The semiconductor company is expected to continue serving its existing commercial and government customers while supporting IonQ’s quantum-hardware roadmap.
The FTC’s decision followed disagreement among its leadership over whether conditions should be imposed on the deal. FTC Chairman Andrew Ferguson had proposed requiring IonQ to provide fair access to competing quantum-computing companies that have existing contracts with SkyWater.
FTC Commissioner Mark Meador concluded that the transaction was unlikely to reduce competition. As the commissioners could not agree on an order imposing conditions, the agency permitted the merger to proceed without additional requirements.
IonQ expects the acquisition to support the development of its next-generation quantum processors and expand domestic production capabilities for quantum-computing components. The company plans to begin testing a 200,000-qubit processor in 2028.
SkyWater describes itself as the largest semiconductor foundry headquartered in the United States. The transaction combines its chip-fabrication infrastructure with IonQ’s quantum-computing technology as competition intensifies to develop commercially viable quantum systems.
