Horizon Quantum announced a non-binding agreement to acquire Entropica Labs in a $27 million stock deal. Both companies are based in Singapore, and have been in business since 2018, which places them among the elders in the quantum sector.
Both companies are still led by their founders. In Horizon’s case, that’s Dr. Joe FitzSimons, a longtime presence on the quantum scene and frequent conference presenter (He probably was the first speaker I ever saw present on the topic sometime around 2019.) Entropica’s co-founders Tomasso Demarie and Ewan Munro also are still in place as CEO and CTO, respectively.
Horizon and Entropica are also both quantum software firms, but that might be where the similarities end. Horizon operates its own quantum computing hardware testbed, but is primarily known for its hardware-agnostic Triple Alpha development environment and compiler platform. Entropica’s software expertise is more focused on error correction.
Horizon has worked with IonQ, Rigetti Computing, Quantum Machines, and other firms, while Entropica also has collaborated with Quantum Machines, as well as Atom Computing, Xanadu Quantum Computing, Quobly, and more.
This is Horizon’s first M&A move since it went public through a merger with special purpose acquisition company dMY Squared Technology Group back in March of this year. Horizon’s stock price stood at $10.81 per share around mid-day Thursday (NSDQ: HQ). Apparently, it has been at least a couple of years since Entropica last raised funding, but reportedly its Series A round was about $5.5 million, and the last major investor to join in was State Farm Ventures in 2024.
Horizon Quantum is scheduled to report quarterly earnings next week on Nov. 10. Horizon’s announcement of the acquisition agreement was very brief, but I’m guessing we’ll hear a t least a little more detail on the earnings call.
Image: Horizon Quantum CEO and Founder Dr. Joe FitzSimons (Source: Horizon Quantum)
Quantum News Nexus is a site from freelance writer and editor Dan O’Shea that covers quantum computing, quantum sensing, quantum networking, quantum-safe security, and more. You can find him on X @QuantumNewsGuy and doshea14@gmail.com.
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