Washington, D.C.-based QxBranch has been acquired by Berkeley, Calif.-based quantum startup Rigetti Computing for an undisclosed amount in an all-equity transaction.
Thrilled to announce that @qxbranch has been acquired by @rigetti. Joining forces will strengthen our #quantumcomputing resources and applications and get us closer to quantum advantage. Read the press release with all the details: https://t.co/EFJ5XDVy9c pic.twitter.com/kzunkCgnOo
— QxBranch (@qxbranch) July 11, 2019
Launched in 2014, QxBranch is a quantum computing and data analytics software startup. With this acquisition, QxBranch will expand Rigetti’s full-stack capabilities and its ability to deliver quantum algorithms, solutions, and services, a press release states.
“We believe we have the leading hardware platform, and QxBranch is the leader at the application layer. Together we can shorten the timeline to quantum advantage and open up new opportunities for our customers,” Chad Rigetti, founder and CEO of Rigetti, said in a statement.
Michael Brett, CEO of QxBranch, will join the Rigetti team as senior VP of applications. The rest of the QxBranch team will join Rigetti in various roles, including business development and software engineering. The QxBranch team members joining Rigetti will specifically focus on building software development tools and applications and work with customers to implement quantum algorithms.
“Over the past five years, QxBranch has established itself as a leader in the identification and development of applications for quantum computing technologies. Joining Rigetti’s team of talented engineers and scientists will reinforce and accelerate our efforts to create solutions for complex business problems that will leverage ongoing quantum computing developments,” Dr. Ray O. Johnson, QxBranch board chair who is joining Rigetti’s board as an independent director, said in a statement. “We are thrilled to help make a great Rigetti team even stronger, as we continue our quantum computing efforts,”-30-
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