IonQ agrees to pay up to $1.3B in shares for a security company that has not revealed its revenue

IonQ agreed on Oct. 9 to acquire network security company Elisity in a stock deal worth up to $1.3B, including $150M in performance-based payments. The initial $1.15B payment equals roughly 23M–35M shares, depending on IonQ's stock price. Elisity reports over 100 deployments, yearly growth of 100% in revenue and customers, and no customer losses, but has not disclosed its revenue. The deal is expected to close in Q4, pending regulatory approval.

The $1.3B price is 2.9 times IonQ's full-year revenue forecast, and the company being acquired operates in traditional network security rather than quantum computing. IonQ says its Q2 revenue across multiple products grew 40%.

Calling revenue "significant" tells us little without an actual number. The $33.07 minimum share price is only about 5% below IonQ's estimated Oct. 13 closing price of $34.75. Before judging whether the deal is worth its price, investors need to know Elisity's annual recurring revenue.

IonQ, Inc. (2026, October 12). IonQ to acquire Elisity to accelerate zero trust for the quantum era. https://www.ionq.com/news/ionq-to-acquire-elisity-to-accelerate-zero-trust-for-the-quantum-era