Cambridge Quantum, a pioneer in the field of quantum software, operating systems and cybersecurity, and Honeywell Quantum Solutions, which built high-performance quantum equipment based on captured ion technology, announced that they had fulfilled all the conditions necessary to complete the transaction to combine the two businesses, and created a new company called Quantinuum
"Quantinuum is now the largest and most advanced integrated quantum computing company in the world—" said Ilyas Khan, CEO of the new company and founder of Cambridge Quantum. - By combining the best-in-class quantum computing software with the most productive hardware, we are in a unique position to offer real products and solutions for quantum computing in large, fast-growing markets in the near, medium and long term as the power and quality of quantum computers increases. We are driven by science and enterprise-oriented, and our scale and global presence in this most important of technologies will ensure leadership in each of the key areas that are "mandatory" for quantum computing to provide real solutions to all our customers and partners."
Quantinuum will launch a quantum cybersecurity product globally in December 2021, and in 2022 — a corporate software package that will allow quantum computing to be used to solve complex scientific problems in pharmaceuticals, materials science, special chemistry and agrochemistry. The company will also announce major hardware updates.
Quantinuum was formed six months after Honeywell announced that its quantum computing division, Honeywell Quantum Solutions, would split from the company and merge with Cambridge Quantum. Initially, Honeywell will be the largest shareholder of Quantinuum with approximately 54% ownership in the new company. In addition to this share, Honeywell invested about $ 300 million in the new venture, ensuring a good capitalization of Quantinuum from the very beginning. Honeywell will also be a supplier of Quantinuum, supporting the manufacturing process for the company's patented ion traps. In addition, Honeywell is a customer of Quantinuum in various projects of its business units.
At the time of its creation, Quantinuum has almost 400 employees with offices in the UK, USA, Japan and Germany. Of these employees, about 300 are scientists working in technical groups to improve equipment and develop software solutions. Quantinuum will have a European headquarters in Cambridge and a North American one in Colorado.