SEEQC, Inc. and Allegro Merger Corp. have entered into a definitive merger agreement valued at approximately $1 billion.
The merger involves the formation of a wholly owned subsidiary by SEEQC which will then merge with and into Allegro, making Allegro a wholly owned subsidiary of SEEQC.
The merger agreement also includes a PIPE transaction for the sale of approximately $65 million of common stock of Allegro.
Transaction Value
The transaction values SEEQC at approximately $1 billion.
Technology Focus
SEEQC develops and manufactures digital, chip-based solutions that integrate control, readout, and classical processing functions directly on-chip integrated with quantum processors (QPUs) for quantum computing system developers.
Collaborations
SEEQC's technology has been deployed in collaborations with government agencies, academic institutions, and industry partners including IBM, NVIDIA, Booz Allen Hamilton, and Rigetti.
- The merger is expected to make quantum computing systems more scalable and energy efficient.
- SEEQC's technology has the potential to revolutionize the quantum computing industry by reducing reliance on room-temperature electronics.
- The collaboration with Allegro opens up new opportunities for both companies in the quantum computing market.
The merger between SEEQC and Allegro Merger Corp. signifies a significant step towards advancing quantum computing technology and creating more efficient quantum systems.