FTC approves IonQ acquisition of SkyWater semiconductor foundry

The U.S. Federal Trade Commission has given the green light to quantum computing firm IonQ's $1.8 billion acquisition of semiconductor manufacturer SkyWater Technology. The decision came after a disagreement among FTC leaders regarding the necessity of imposing conditions on the deal.

FTC Chairman Andrew Ferguson stated he had proposed requiring IonQ to ensure fair access for rival quantum computing companies that have existing contracts with SkyWater. These proposed measures aimed to safeguard competition as the U.S. seeks to expand its domestic chip manufacturing capabilities.

However, Commissioner Mark Meador expressed a different view, asserting that the merger would not diminish competition. Due to the inability of the leaders to agree on a set of conditions, Ferguson noted that "the next-best option is to get out of the way and permit the merger to close."

SkyWater Technology holds the distinction of being the largest semiconductor foundry based in the United States, according to the company's own description. The acquisition is expected to bolster IonQ's position in the burgeoning quantum computing sector.

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the next-best option is to get out of the way and permit the merger to close