QUANTUM COMPUTING
INTELLIGENT TECHNOLOGY
IQM to become first listed European quantum company through merger with Real Asset Acquisition Corp
IQM Finland Oy( IQM), a global leader in superconducting quantum computing, has entered into a definitive business combination agreement with Real Asset Acquisition Corp.
The transaction is expected to result in IQM becoming the first listed European quantum company, with American Depositary Shares anticipated to trade on one of the two leading US stock exchanges.
IQM is also evaluating a potential dual listing of its ordinary shares on the Helsinki Stock Exchange following completion of the transaction.
The proposed transaction values IQM at a pre-money equity valuation of approximately US $ 1.8 billion. Upon closing, IQM’ s cash position is expected to exceed US $ 450 million, including approximately US $ 175 million held in RAAQ’ s trust account – assuming no redemptions – US $ 134 million in PIPE financing at US $ 10.00 per share from leading institutional investors, approximately US $ 24 million from the cash exercise of outstanding warrants and approximately US $ 172 million of existing cash on IQM’ s balance sheet as of yearend 2025( unaudited). assembly and a dedicated quantum data centre. This end-to-end infrastructure enables faster innovation cycles, industrial-scale production and delivery of high-performance systems to research institutions and enterprise customers worldwide.
IQM has established itself as the global commercial leader in on-premises quantum systems, with 21 systems sold to 13 customers to date, including four of the world’ s top ten supercomputing centres.
The company has delivered 15 systems – representing the largest publicly disclosed number among selected quantum companies – and has built more than 30 quantum computers.
Commercial momentum remains strong, with at least US $ 35 million in unaudited revenue for 2025 and over US $ 100 million in bookings and visibility as of year-end 2025.
IQM’ s quantum systems are integrated across leading high-performance computing and enterprise platforms, including collaborations with NVIDIA, Hewlett Packard Enterprise, Amazon Web Services, Toyo Corporation and Bechtle AG.
These integrations position IQM at the convergence of quantum computing, artificial intelligence and advanced enterprise infrastructure, enabling customers to combine quantum processors seamlessly with classical supercomputing environments and supporting broader Digital Transformation initiatives.
Technically, IQM has achieved greater than 99.9 % fidelity for single-qubit and two-qubit gates and readouts in its processors.
The company is advancing toward broader commercialization with the planned release of its next-generation system, Halocene, designed to enhance scalability, performance and practical quantum advantage.
Jan Goetz, Co-Founder and CEO, IQM, said the company was founded to place working quantum computers into the hands of users solving real-world challenges today.
Peter Ort, CEO and Co-Chairman, Real Asset Acquisition Corp., said that IQM has delivered more on-premises quantum systems than any other competitor to some of the world’ s most demanding institutions. •
The capital will support IQM’ s technology roadmap toward fault-tolerant quantum computing and accelerate global commercial expansion.
Headquartered in Finland, IQM designs and builds full-stack, open-architecture quantum computers that can be deployed on-premises or accessed via the cloud.
The company operates a vertically integrated model spanning proprietary chip design tools, a software development platform, in-house quantum chip fabrication, system
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