Honeywell to merge Broomfield quantum-computing unit with U.K. company
BROOMFIELD — Honeywell International Inc. (Nasdaq: HON) will merge its Broomfield-based Honeywell Quantum Solutions subsidiary with a U.K. company, with Bloomberg reporting that a public offering is possible for the resulting spinoff.
Charlotte, North Carolina-based Honeywell will own 54% of the new company, which will result from the merger of Honeywell Quantum Solutions and Cambridge Quantum Computing. The new company, which has yet to be named, will be based in Cambridge, United Kingdom, and Broomfield.
Honeywell said it will invest $270 million to $300 million in the new venture and will secure a long-term contract to manufacture ion traps needed to power…
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