QuantumCore Expands Hardware Portfolio with Avalanche Acquisition
QuantumCore Ltd (QNCR.CN) has acquired Avalanche PhotoniQ technology for C$2 million, expanding its quantum hardware portfolio. The acquisition adds single-photon detectors to QuantumCore's lineup and broadens its reach beyond superconducting systems.
The deal was valued at C$2 million, with C$1.07 million paid in cash upon closing. The remaining C$930,000 will be owed after Avalanche completes 100 qualifying detectors, which can be settled through a combination of cash, shares, or both.
Avalanche brings a single-photon detector platform based on proprietary semiconductor metasurface technology. QuantumCore plans to move the platform into foundry production and customer evaluation for use in photonic computing, quantum communications, networking, sensing, and advanced imaging.
The acquisition supports QuantumCore's strategy of building hardware between control systems and quantum processing units, aiming to become a specialized supplier network like semiconductors. The company plans to review additional technologies that complement its current portfolio and supply signal generation, amplification, detection, and readout components as systems scale.