SkyWater Technology completed its merger with IonQ on July 31, 2026, resulting in SkyWater becoming a wholly-owned subsidiary renamed SkyWater Technology, LLC. Each outstanding share of SkyWater common stock was converted into $15.00 in cash and 0.4883 shares of IonQ common stock. The transaction triggered the delisting of SkyWater's common stock from Nasdaq and the termination of its existing revolving credit facility without material penalties. All eight members of SkyWater’s board of directors resigned effective at the closing. This company operates in the semiconductor industry, specializing in custom silicon design and manufacturing services.

SkyWater Technology, Inc. announced on July 28, 2026, that it has received final regulatory approval to consummate its previously disclosed merger with IonQ, Inc. The transaction, governed by an Agreement and Plan of Merger dated January 25, 2026, involves a two-step merger process where SkyWater becomes a wholly owned subsidiary of IonQ. The companies anticipate closing the transaction on July 31, 2026, subject to satisfaction of remaining closing conditions. Upon completion, SkyWater will continue to operate as a U.S.-based semiconductor foundry under IonQ's ownership. SkyWater Technology, Inc. operates in the semiconductor industry as a pure-play foundry specializing in foundational nodes and advanced packaging.