D-Wave Quantum to Acquire Quantum Circuits

Paul, Weiss is advising D-Wave Quantum Inc., a leader in quantum computing systems, software and services, and the world’s first commercial supplier of quantum computers, in its $550 million cash-and-stock acquisition of Quantum Circuits Inc., a leading developer of error-corrected superconducting gate-model quantum computing systems. The transaction secures D-Wave's position as the only company capable of addressing the full quantum computing opportunity with industry-leading gate-model and annealing quantum computing technology. The purchase price will consist of $300 million in D-Wave common stock and $250 million in cash. The deal is expected to close this month, pending customary closing conditions.

The Paul, Weiss team is led by corporate partners Stan Richards, Adam Givertz and Christian Kurtz, and includes partners Christopher Cummings, Peter McCormack and Steven Kaye; intellectual property partners Jonathan Ashtor and Brianna van Kan; executive compensation partners Christopher Gonnella and Matthew Friestedt; tax partners Sohail Itani and Brian Krause; antitrust partners Marta Kelly and Yuni Sobel, and counsel Todd Hahn and John Magruder; and litigation partner Pietro Signoracci.