Quantum Computing Inc. (NASDAQ: QUBT), an innovative quantum optics and integrated photonics technology company, announced the successful completion of its acquisition of NuCrypt, LLC, a quantum communications technology company, in a transaction valued at $5 million.
Under the terms of the transaction, the purchase price was paid in a combination of cash and shares of Quantum Computing Inc. common stock. The acquisition is expected to expand the Company’s capabilities in quantum communications and further strengthen its portfolio of quantum photonics and secure communications technologies. NuCrypt will initially operate as a wholly owned subsidiary of Quantum Computing Inc.
The transaction supports the Company’s broader strategy to advance the commercialization of quantum technologies and expand its presence in secure communications and advanced computing applications.
Lucosky Brookman LLP served as legal counsel to Quantum Computing Inc. in connection with the transaction.
