SEEQC, Inc. is a developer and manufacturer of scalable, energy efficient digital chips for quantum computing systems.
Under the merger agreement, SEEQC will form a wholly owned subsidiary that will merge with and into Allegro, with Allegro surviving as a wholly owned subsidiary of SEEQC.
The merger involves the sale of approximately $65 million of Allegro's common stock as part of the transaction valued at about $1 billion.
Merger Agreement
SEEQC and Allegro Merger Corp. entered into a definitive merger agreement, leading to Allegro becoming a wholly owned subsidiary of SEEQC.
Technology Focus
SEEQC develops chip-based solutions integrating control, readout, and classical processing functions on-chip with quantum processors for quantum computing.
Collaborations
SEEQC has collaborated with government agencies and industry partners, including IBM, NVIDIA, Booz Allen Hamilton, and Rigetti, for quantum computing research.
- The merger is expected to enhance SEEQC's capabilities in quantum computing by leveraging Allegro's resources and expertise.
- SEEQC's technology, deployed in various collaborations, showcases its position as a leading player in the quantum computing industry.
The merger between SEEQC and Allegro marks a significant step towards advancing quantum computing technologies and is poised to drive innovation in the industry.