By Karen Roman
Horizon Quantum Computing plans to go public through a merger with special purpose acquisition company dMY Squared Technology Group (OTCQB: DMYY) in a deal valuing the Singapore-based firm at about $541 million.
The transaction is expected to close in the first quarter of 2026 and includes a $110 million PIPE financing backed by IonQ and other institutional investors, bringing expected gross proceeds to roughly $137 million.
Founded in 2018, Horizon Quantum develops software designed to simplify quantum computing development. Its Triple Alpha platform enables programmers to write and deploy quantum applications without specialized physics expertise and is designed to run across multiple quantum hardware architectures.
The company is betting that demand for hardware-agnostic software tools will grow as the quantum industry matures. Horizon Quantum also operates a quantum computing testbed in Singapore that integrates hardware from vendors including Rigetti and Quantum Machines, allowing it to test its software stack on real quantum processors.
The deal would position Horizon Quantum among the few publicly traded companies focused primarily on quantum computing software infrastructure.
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