Quantum Computing (QUBT) announced on Monday that it intends to acquire Luminar Semiconductor for $110M in an all-cash deal from Luminar Technologies (LAZR).
Quantum Computing shares fell 7.5% in late morning trading.
Hoboken, N.J.-based Quantum Computing will acquire the unit to boost its portfolio of core photonic technologies, patents, and engineers, the company said in a statement.
“This acquisition represents a meaningful step forward in our strategy to develop and scale practical, integrated quantum solutions,” Yuping Huang, Quantum Computing’s CEO and Chairman said in a statement. “The post-closing revenue opportunity will be two-fold: to serve and expand LSI’s current non-quantum customer base; and to utilize LSI’s technology and products to drive the commercialization of quantum appliances in our targeted markets. LSI employees are a highly valued component of this deal and QCi will provide attractive career opportunities and competitive compensation to those that remain with the company.”
In conjunction with the deal, Luminar’s parent company, Luminar Technologies, announced it had voluntary filed for Chapter 11 bankruptcy protection in the Southern District of Texas. As such, the deal to acquire Luminar Semiconductor will require the approval of the bankruptcy court pursuant to a Section 363 sale process.
The deal is expected to close by the end of January 2026.