IonQ, a US-based quantum computing company, has agreed to acquire UK startup Oxford Ionics in a $1.08bn deal. The acquisition, comprising approximately $1.07bn (£800m) in IonQ shares and $10m (£7m) in cash,

IonQ will acquire its British peer Oxford Ionics for $1.08 billion, the companies said on Monday, helping the U.S.-based quantum computing firm deepen its research expertise in the complex technology that is seeing booming investor interest.

June 9 (UPI) -- IonQ announced an agreement Monday to buy Oxford Ionics for $1.075 Billion. This agreement consists of $1.065 shares in IonQ common stock and approximately $10 Million in cash.