The NEC-backed quantum computing system developer is set to list on the New York Stock Exchange through the transaction.
D-Wave Systems, a Canada-based quantum computing technology developer backed by IT equipment producer NEC, agreed to a $1.6bn reverse merger on Tuesday with special purpose acquisition company DPCM Capital.
Founded in 1999, D-Wave produces full-stack quantum systems supporting hardware, post-processing software and developer tools.
The deal values the company at $1.2bn pre-merger and the merged business, D-Wave Quantum, will take the New York Stock Exchange listing acquired by DPCM in a $300m initial public offering in late 2020.
The deal…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
