Finnish quantum computing company IQM is set to list its shares on the U.S. stock market. The move will be facilitated through a merger with a special purpose acquisition company, Real Asset Acquisition Corp.
This transaction values the European firm at approximately $1.8 billion. Quantum computers, significantly faster than traditional machines, are considered vital for future cybersecurity and are attracting substantial investment from major tech companies and governments.
IQM CEO Jan Goetz stated that the deal, expected to finalize around June, aims to secure additional capital and enhance the company's global visibility. While governments show high interest in quantum computing for security and defense applications, including code-breaking capabilities, Goetz confirmed IQM is not currently involved in any U.S. federal funding projects.
The company also intends to pursue a listing in Helsinki, which would make it the first European quantum computing firm to be publicly traded.