IonQ, the world’s leading quantum company, acquired Bloomington-based chipmaker SkyWater Technology on Monday for $1.8 billion. The deal includes cash and stocks, at $35 per share, according to an SEC filing.

SkyWater develops and manufactures semiconductors, also known as chips, which are used in electronic devices like smartphones and tablets. The Minnesota company has a fabrication facility in Bloomington that will assist IonQ to bring semiconductor production in-house and develop new quantum technology.

Quantum computers are devices that use tiny particles to explore solutions simultaneously, unlike regular computers that can check one at a time.

SkyWater went public only five years ago and had a reported revenue of $140.4 million the year before.

Once the transaction closes, Skywater will operate as a subsidiary to IonQ but still under the SkyWater name. The deal is expected to close in the second or third quarter of 2026 and is subject to approval by SkyWater’s shareholders.