Key Takeaways
- Quantum Computing Inc. (QCi) has signed an agreement to acquire Luminar Semiconductor, Inc. (LSI) in an all-cash transaction valued at $110 million.
- The acquisition will bring QCi a portfolio of core photonic technologies, patents, and a highly experienced team of engineers and scientists.
- The transaction is expected to accelerate QCi’s roadmap and support the growth of LSI’s established customer base.
- LSI manufactures and sells photonic components that are important building blocks for QCi’s technology roadmap.
- The acquisition is subject to customary closing conditions, including receipt of bankruptcy court approval, which is expected by the end of January 2026.
Introduction to the Acquisition
Quantum Computing Inc. (QCi), a quantum optics and integrated photonics technology company, has announced that it has signed an agreement to acquire Luminar Semiconductor, Inc. (LSI), a wholly owned subsidiary of Luminar Technologies, Inc. (Luminar), in an all-cash transaction valued at $110 million. The acquisition is expected to bring QCi a portfolio of core photonic technologies, patents, and a highly experienced team of engineers and scientists that will accelerate QCi’s roadmap while continuing to support and grow LSI’s established customer base.
Benefits of the Acquisition
The acquisition will bring LSI’s components, patents, and talent into QCi, strengthening the company’s supply chain, substantially increasing the engineering depth of its workforce, and accelerating the advancement of compact, fully-integrated quantum systems for commercial deployment. QCi’s CEO and Chairman of the Board, Yuping Huang, commented that the acquisition represents a meaningful step forward in the company’s strategy to develop and scale practical, integrated quantum solutions. The post-closing revenue opportunity will be two-fold: to serve and expand LSI’s current non-quantum customer base and to utilize LSI’s technology and products to drive the commercialization of quantum appliances in QCi’s targeted markets.
Leadership Perspectives
Huang also added that LSI employees are a highly valued component of this deal and QCi will provide attractive career opportunities and competitive compensation to those that remain with the company. Paul Ricci, CEO of Luminar, commented that LSI is a high-quality business with significant long-term potential, and this transaction with QCi provides the investment and strategic vision needed to realize that potential. By bringing together QCi’s and LSI’s complementary capabilities and engineering strengths, they will be able to bring innovations to market faster and better serve their customers across a broad set of advanced photonics and sensing applications.
Transaction Details
Concurrent with this announcement, LSI’s parent Luminar announced that it has initiated voluntary chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas. LSI is not a debtor in Luminar’s chapter 11 cases and is operating in the ordinary course. Because LSI is a subsidiary of Luminar, the transaction will require the approval of the bankruptcy court pursuant to a Section 363 sale process. QCi has agreed to be the proposed stalking horse bidder for LSI in connection with the bankruptcy cases and, in this capacity, will be entitled to customary bid protections. The parties anticipate closing the transaction subject to the satisfaction of customary closing conditions, including receipt of the bankruptcy court approval, which the parties expect to receive by the end of January 2026.
About Quantum Computing Inc.
Quantum Computing Inc. (Nasdaq: QUBT) is an innovative, quantum optics and integrated photonics technology company that provides accessible and affordable quantum machines and foundry services for the production of photonic chips based on thin-film lithium niobate. QCi’s products are designed to operate at room temperature and low power at an affordable cost. The company’s portfolio of core technologies and products offers unique capabilities in the areas of high-performance computing, artificial intelligence, and cybersecurity, as well as remote sensing applications.
Forward-Looking Statements
The press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including the occurrence of any event, change or other circumstances that could give rise to the right of the Company or Luminar to terminate the Stock Purchase Agreement. Except as required by federal securities law, QCi undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
