SEEQC, Inc. is a developer and manufacturer of scalable, energy-efficient digital chips for quantum computing systems.
Allegro Merger Corp. has entered into a definitive merger agreement with SEEQC.
The merger agreement includes the formation of a wholly owned subsidiary merging with Allegro, valuing SEEQC at approximately $1 billion.
Technology Focus
SEECQ develops chip-based solutions for quantum computing systems integrating control, readout, and classical processing functions directly on-chip.
Collaborations
SEECQ's technology has been deployed in collaborations with government agencies, academic institutions, and industry partners, including IBM, NVIDIA, and Rigetti.
Transaction Details
The merger agreement includes the sale of approximately $65 million of Allegro's common stock, which will be exchanged for SEEQC's common stock.
- SEECQ's technology aims to reduce reliance on room-temperature electronics in quantum computing operations.
- The merger is expected to enhance SEECQ's position in the quantum computing market and drive further research and development collaborations.
The merger between SEEQC and Allegro Merger Corp. signifies a significant move in the quantum computing industry, positioning SEEQC for growth and innovation in the market.