A billion-dollar quantum computing deal announced this month has roots in research led by an Exeter College Fellow and his Oxford colleagues over almost three decades.
Oxford Ionics, a UK-based quantum startup, has been acquired by IonQ, a leading US quantum computing company, in a deal worth $1.075 billion in stock and cash. The co-founders of Oxford Ionics, Dr Tom Harty and Dr Chris Ballance, previously worked as postdoctoral researchers in the Oxford physics group established by Professor Andrew Steane, Fellow in Physics at Exeter, and later led by Professor Steane and Professor David Lucas, Hooke Professor of Experimental Physics.
Professor Steane began building the group in the 1990s, pioneering research into ion-trap quantum computing. In 2006, the team became the first in the UK to demonstrate deterministic entanglement – the key operation at the heart of any quantum computer. This was one of many breakthroughs in a sustained programme of experimental research that Dr Harty and Dr Ballance would later take forward into the commercial sphere.
“The work of Oxford Ionics implements and carries forward precisely the methods and technologies developed by Tom and Chris in our research group,” said Professor Steane. “I wouldn’t wish to overstate my contribution as credit for the company’s success belongs to them, but it was significant in setting the stage.”
While neither founder is directly affiliated with Exeter, the story highlights the value of long-term academic investment and mentorship – and Exeter’s role in nurturing research with global commercial impact.
Oxford Ionics now aims to scale up quantum systems using hardware and software innovations pioneered in Oxford. The acquisition reflects a growing global race to harness the potential of quantum computing in fields from cybersecurity to drug development.
“We’re tremendously excited to work alongside the world-class quantum computing and networking teams at IonQ,” said Dr Ballance. “Together, we intend to move faster than any other player in the industry to deliver the leading fault-tolerant quantum computers with transformative value for customers. At Oxford Ionics, we have not only pioneered the most accurate quantum platform on the market – we have also engineered a quantum chip capable of being manufactured in standard semiconductor fabs. We look forward to integrating this innovative technology to help accelerate IonQ’s quantum computing roadmap for customers in Europe and worldwide.”
