IonQ has completed an all-stock acquisition of Elisity, a Zero Trust security company, issuing $1.15 billion in common stock at closing with sellers eligible for up to an additional $150 million based on revenue milestones through January 2028. The deal adds Elisity’s platform, which helps organizations discover connected assets, assess network risks and enforce identity-based Zero Trust policies, to IonQ’s portfolio of post-quantum cryptography (PQC) and quantum key distribution (QKD) capabilities. Niccolo de Masi, IonQ’s Chairman and CEO, said the combined offering will let enterprise and government customers draw on a single security architecture to contain machine-speed attacks and protect data against future quantum threats. James Winebrenner, Elisity’s CEO, noted the acquisition gives his team resources to extend the platform for post-quantum preparation. 1