UK-based Cambridge Quantum Computing has completed its merger with US-based Honeywell Quantum Solutions to create a quantum computing powerhouse named Quantinuum.
The newly-formed quantum computing company combines Cambridge Quantum’s quantum computing software with Honeywell’s quantum computer hardware.
The deal, which was first announced in June this year, aims to provide “platform agnostic” quantum computing solutions.
Ilyas Khan, CEO and founder of Quantinuum, said the new company will be the “largest and most advanced integrated quantum computing company in the world”.
Cambridge Quantum works primarily in the field of quantum software, operating systems and cybersecurity. In contrast, Honeywell Quantum Solutions creates quantum hardware, which is based on trapped-ion technologies.
Honeywell shareholders own 54% of Quantinuum, while Cambridge Quantum shareholders own the remaining 46%.
Quantinuum: Aiming to solve complex problems
Quantum computers are heralded as the next stage of computing and recent advances have brought them closer to solving complex real-world problems in areas ranging from pharmaceutical to finance.
Khan added: “By uniting the best-in-class quantum software available with the highest performing hardware available, we are uniquely positioned to bring real, quantum computing products and solutions to large, high-growth markets.”
Quantinuum plans to launch a quantum cybersecurity product globally this month. Next year, the company aims to release an enterprise software package that will use quantum computing to solve scientific problems in sectors such as pharmaceuticals, materials science, speciality chemicals and agrochemicals.
Honeywell’s quantum computer, System Model H1, is also set to receive some upgrades in the near future. However, the company is yet to reach quantum supremacy, a milestone that Google claimed to have reached in 2019.
Quantinuum’s formation takes place six months after Honeywell’s announcement of Quantum Solutions separating from the main company and combining with Cambridge Quantum.
Alongside its majority share, Honeywell has also invested $300m into the new venture. While Honeywell says it will be a customer of Quantinuum, the latter will also be its client for ion-traps.
Quantinuum has already hired 400 employees and has established offices in the UK, US, Japan, and Germany. Its European headquarter is in Cambridge, UK and it has a North American headquarter in Colorado, US.