Quantum Computing to acquire Luminar Semiconductor

Quantum Computing (QUBT) announced that it has signed an agreement to acquire Luminar Semiconductor, a wholly owned subsidiary of Luminar Technologies (LAZR), in an all-cash transaction valued at $110M, subject to customary adjustments. “The acquisition will bring QCi a portfolio of core photonic technologies, patents, and a highly experienced team of engineers and scientists that will accelerate QCi’s roadmap while continuing to support and grow LSI’s established customer base. LSI manufactures and sells a portfolio of photonic components that are important building blocks on QCi’s technology roadmap. The acquisition will bring LSI’s components, patents and talent into QCi, strengthening the Company’s supply chain, substantially increasing the engineering depth of its workforce, and accelerating the advancement of compact, fully-integrated quantum systems for commercial deployment,” the company stated. Yuping Huang, CEO and Chairman of the Board of QCi commented, “This acquisition represents a meaningful step forward in our strategy to develop and scale practical, integrated quantum solutions. The post-closing revenue opportunity will be two-fold: to serve and expand LSI’s current non-quantum customer base; and to utilize LSI’s technology and products to drive the commercialization of quantum appliances in our targeted markets. LSI employees are a highly valued component of this deal and QCi will provide attractive career opportunities and competitive compensation to those that remain with the company. We also believe LSI’s current customer base will benefit from QCi’s ownership. We are in a strong position to invest immediately in LSI’s R&D, product development, and manufacturing capabilities. We believe this combination strengthens both organizations and positions us to accelerate our technology roadmap and put quantum technology into the hands of people.”