Acquisition of Oxford Ionics Limited by IonQ Inc.: notice of final order
Published 11 September 2025
© Crown copyright 2025
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1. Following a detailed national security assessment, the Chancellor of the Duchy of Lancaster has made a final order pursuant to section 26 of the National Security and Investment Act 2021 (“the Act”), which comes into force on 11 September 2025.
2. The parties who are subject to the order are:
i. IonQ Inc.; and
ii. Oxford Ionics Limited.
3. IonQ Inc. will gain control of the qualifying entity, Oxford Ionics Limited, by acquiring 100% of Oxford Ionics Limited’s shares.
4. The acquisition is a trigger event under section 8(2)(c) of the Act.
5. The Chancellor of the Duchy of Lancaster has allowed the acquisition to proceed subject to the condition that the parties:
i. host current and future generations of Oxford Ionics’ trapped-ion quantum computing hardware in the UK to allow for its independent assessment and validation on request as part of current or future government programmes or contracts; and
ii. maintain Oxford Ionics’ science, engineering and infrastructure functions in the UK, including suitably qualified and experienced personnel, tangible and intangible assets and manufacturing capacity related to the development of trapped-ion quantum computing hardware.
6. The Chancellor of the Duchy of Lancaster considers that the measures contained within the final order are necessary and proportionate to remedy, prevent or mitigate the risks to national security relating to:
i. Oxford Ionics’ leading role in developing cutting edge quantum computing capabilities.