Quantum leap: the story behind the University of Oxford’s highest-value quantum computing spinout acquisition

17th September 2025

Oxford Ionics has been acquired by US-listed IonQ in a landmark $1.075 billion deal - the largest quantum acquisition to emerge from the University of Oxford to date.

In 2019, two physicists from the University of Oxford set out with a vision for a radically different approach to quantum computing. They bet that the most promising path to building reliable, scalable quantum machines lay in combining ultra-high performance with inherent scalability.

Just six years later, Oxford Ionics has achieved a hugely important milestone: a $1.075 billion acquisition agreement with US quantum leader IonQ, making it the highest-value acquisition of any University of Oxford quantum computing spinout to date . This deal formally completed this September, marking a major milestone in the Oxford innovation ecosystem.

Oxford Ionics was founded by physicists Dr Chris Ballance and Dr Tom Harty, both experts in trapped-ion quantum technologies. Having met during their PhDs at Oxford more than a decade ago, the pair identified a major gap in the field: while trapped ions offered outstanding performance as qubits, the systems used to control them were too unwieldy to scale.

Their breakthrough idea was to combine both the precision and stability of trapped-ion qubits with conventional silicon chip technology, thereby unlocking a scalable path to building quantum computers without comprising performance. Oxford Ionics has worked to develop the technology to make this vision a reality.

From the outset, the company benefited from Oxford’s support infrastructure for spinouts. With early backing from Oxford Science Enterprises, as well as additional successive external funding rounds, Oxford Ionics quickly distinguished itself as a standout in the quantum technology landscape.

Its progress attracted the attention of IonQ, a US-listed quantum computing company. The acquisition will see Oxford Ionics continue operations in the UK while integrating their technology into IonQ’s global roadmap. The combined company also plans to expand its Oxford workforce to further develop the UK’s position as a quantum computing leader.

Mairi Gibbs, CEO of Oxford University Innovation, said: “Oxford Ionics exemplifies what can happen scientists have huge entrepreneurial ambition. Chris and Tom started with their belief that a better approach to quantum computing was possible, and they’ve built a company that is now a global leader in its field.

“That journey, from concept to billion-dollar acquisition, should be an inspiration to other researchers in Oxford and to innovators everywhere. We’re proud to have supported Oxford Ionics from its earliest days and to have played a part in their remarkable success story.”

Dr Chris Ballance, co-founder of Oxford Ionics, said: “We’re incredibly proud of how far we’ve come. When we founded Oxford Ionics, we were two physicists with a strong conviction that trapped-ion technology had untapped potential.

“We’ve grown from an idea to a company now joining forces with one of the world’s most ambitious players in quantum computing. We’re excited for what comes next and remain committed to delivering quantum systems that make a meaningful impact on the world.”