Feb 23, 2026
Finnish quantum-computing pioneer IQM Quantum Computers has agreed to go public via a merger with Real Asset Acquisition Corp., a Nasdaq-listed special purpose acquisition company. The deal could make IQM Europe’s first publicly traded pure-play quantum computing company, developing computers that use the principles of quantum physics to tackle certain highly complex computational problems.
The transaction values IQM at a pre-money equity valuation of around USD 1.8 billion, the Espoo-headquartered company announced today. Upon closing, the combined company is expected to have more than USD 450 million in cash to support continued technology development and commercial expansion.
Founded in 2018, IQM builds full-stack superconducting quantum systems that can be deployed on-premises or accessed via the cloud. The company says it has delivered 21 systems to 13 customers, including leading supercomputing centers, positioning it among the most commercially active quantum hardware providers in Europe.
The listing would mark a milestone for European deep tech, making IQM the first listed quantum company with roots in Europe and potentially strengthening the region's competitiveness in the global quantum race. Quantum computing is widely expected to enable future breakthroughs in areas such as drug discovery, advanced materials, cybersecurity, and complex industrial optimization, particularly in cases where classical computers reach their practical limits.
“This transaction will accelerate the growth of a company [IQM] that has already earned its position in the field, with real customers, running real quantum systems, today,” said Peter Ort, co-chair and CEO of Real Asset Acquisition Corp.
IQM has previously secured substantial private backing, including one of the largest Series B rounds in European quantum, raising more than €275 million from US and Finnish investors, underscoring international investor confidence ahead of its public market debut.
