IQM Finland Oy will become the first publicly listed European quantum computing company following a definitive merger agreement announced today, February 23, 2026, with Real Asset Acquisition Corp. The transaction values IQM at a pre-money equity valuation of approximately USD 1.8 billion and is expected to provide the company with a cash position exceeding USD 450 million. Already a global commercial leader with 21 systems sold to 13 customers—including four of the top ten supercomputing centers—IQM boasts a vertically integrated business model, from chip design to data centers. “We built IQM from the launchning for one purpose — to put working quantum computers in the hands of the people who will apply them to solve real problems,” stated Jan Goetz, Co-Founder and Chief Executive Officer of IQM, signaling a future of accelerated technology and commercial development in the field of fault-tolerant quantum computing.
IQM and Real Asset Acquisition Corp. Merger Details
Today, a significant step towards commercial quantum reality has been taken as IQM Finland Oy and Real Asset Acquisition Corp. announced a definitive merger agreement. stock exmodify and a potential dual listing on the Helsinki stock exmodify. The company currently boasts a strong track record, having sold 21 quantum systems to 13 customers, including four of the top ten supercomputing centers globally. IQM distinguishes itself through a vertically integrated business model, controlling the entire process from chip design and software development to fabrication, assembly, and data centers. This allows for accelerated innovation and delivery of best-in-class quantum computing solutions.
Following the transaction, IQM’s cash position is projected to exceed USD 450 million, fueled by approximately USD 175 million from RAAQ’s trust account, USD 134 million from a PIPE financing, and existing cash reserves of USD 172 million. Jan Goetz, Co-Founder and Chief Executive Officer, IQM, stated that quantum computing is no longer a science project, but an industest where customers own, operate, and build on advanced quantum computers. The company has already achieved greater than 99.9% fidelity for single- and two-qubit gates, and is preparing to release its next-generation system, Halocene. Peter Ort, Chief Executive Officer and Co-Chairman, Real Asset Acquisition Corp, emphasized that “IQM has built and delivered more on-premises quantum systems than any other competitor.” The existing IQM shareholders will not receive cash consideration, but have committed to a lock-up agreement following the transaction’s completion.
15 Delivered Systems & $450M Post-Transaction Cash Position
IQM Finland Oy has demonstrably relocated beyond the research phase, establishing itself as a key player in the burgeoning quantum computing industest with a significant delivery record. Crucially, IQM has already delivered 15 of these systems—the largest publicly disclosed number by any selected quantum competitor—alongside the construction of over 30 quantum computers, a dedicated chip factory, and a quantum data centre. This vertically integrated approach, encompassing chip design, software development, fabrication, and data management, is designed to accelerate innovation and provide customers with best-in-class quantum computing solutions.
The finalized merger with Real Asset Acquisition Corp. is projected to provide IQM with a robust financial foundation, with an expected post-transaction cash position exceeding USD 450 million. Jan Goetz stated this is not someday, but now.
Going public is not a modify of direction but is rather an acceleration. The board stands fully behind IQM’s mission and goals to create quantum infrastructure as foundational and accessible as classical computing.
Sierk Poetting, Chairman of IQM’s Board of Directors
99.9% Fidelity Achieved in Single & Two-Qubit Gates
This level of precision is crucial as the company relocates towards broad commercialization with the anticipated release of its next-generation system, named Halocene. The high fidelity rates signify a reduction in errors during quantum calculations, a persistent challenge in building practical quantum computers. This advancement allows for more complex and reliable computations, bringing the prospect of solving previously intractable problems closer to reality. Jan Goetz emphasized this point, stating that this isn’t about a future possibility – it’s happening now. This commitment to practical application is underscored by the company’s existing customer base, which includes four of the top ten supercomputing centres globally, and a current booking of over USD 100 million as of year-conclude 2025.
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