The result? Quantum computers that combine extraordinary power, precision, and potential. The company holds numerous world records for performance, and is opening doors to solving problems that would otherwise be intractable on classical computers – with applications ranging from advanced AI to cybersecurity to drug discovery.

But building a billion-dollar quantum company isn’t just about physics. With OSE’s support, Chris and Tom successfully made the leap from academia to entrepreneurship and have swapped lab prototypes for hardware that now sits at the forefront of commercial quantum computing.

FROM BOLD IDEA TO BILLION-DOLLAR BUSINESS

Oxford Ionics has grown to a team of more than 100 people, built deep technical and commercial capabilities, and secured the funding needed to scale – with the support of OSE at every stage of the company’s journey.

In June 2025, the company hit a major milestone: it agreed to be acquired by IonQ, a leading US quantum firm, in a $1.065bn deal –the biggest exit in UK quantum history.

This isn’t just a win for Oxford Ionics. It’s proof that UK deep tech, with the right belief and backing, can lead the world.

Oxford Ionics will become the global R&D centre for the combined companies, located in its home city of Oxford.

UNICORN POTENTIAL REALISED

With 256-qubit systems on the near horizon, Oxford Ionics will now play a central role in IonQ’s global roadmap – accelerating the journey to scalable, fault-tolerant quantum computing with 2M+ qubits and beyond.

It’s a flagship example of what OSE does: backing visionary scientists, building world-class teams, and turning deep tech into billion-dollar businesses.

As quantum computing shifts from academic curiosity to computing cornerstone, the story of Dr Chris Ballance and Dr Tom Harty reminds us: the future belongs to those who dare to build it.