Quantum computing firm IonQ (IONQ) has disclosed strategic acquisitions to speed up its plans to launch the first space-based quantum secure network. Yesterday, IonQ revealed deals to acquire both Capella Space, a satellite-based synthetic aperture radar (SAR) data provider, and Lightsynq Technologies, which specializes in connecting quantum systems.
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A quantum secure network is designed to be secure and trusted even against attacks from quantum computers.
Main Motive Behind the Deals
IONQ aims to use Capella’s technology as the base for a secure, space-based quantum communications network. This system will ensure ultra-secure communication between satellites and ground stations.
It must be noted that Capella Space runs four satellites that capture high-resolution radar images, helping with defense, intelligence, maritime tracking, and disaster response. The company plans to launch more satellites this year.
IonQ’s interest in Capella extends beyond its satellite technology. Capella operates secure facilities, which could help IonQ work with defense and intelligence agencies as it builds its space-based quantum network.
At the same time, IonQ is acquiring Lightsynq Technologies, a company founded by Harvard quantum memory experts that has developed the first functional quantum repeater. Quantum repeaters help extend the reach of quantum communications.
Building a Quantum Internet in Space
These acquisitions build on IonQ’s push into quantum networking. Earlier this year, it acquired Qubitekk, a quantum networking firm, and ID Quantique, a leader in quantum-safe encryption.
Also, IonQ has partnered with South Korea’s Intellian Technologies, a company dealing in satellite communication antennas and gateways.
These moves support IonQ’s aim to create a quantum internet where quantum computers and networks interact easily. This progress could revamp cybersecurity, defense, and global communication, making data impossible to hack through traditional means.
Is IonQ a Good Stock to Buy?
On TipRanks, IONQ stock has a Strong Buy consensus rating based on four Buys and one Hold assigned in the last three months. The average IonQ price target of $39.50 suggests an upside potential of 35.55% from its current price.
