U.S. firm Strangeworks purchases Quantagonia for a massive sum of money
In a significant move, Strangeworks, a leading player in the quantum computing sector based in Austin, Texas, has expanded its horizons into Europe with the acquisition of Quantagonia. Quantagonia, a startup based in Munich and Frankfurt, Germany, is one of the first major M&A transactions in the European quantum software sector.
Quantagonia, valued at around 13 million euros in its 2023 financing round, is poised to serve large European industrial customers such as BMW and Airbus. The strategic acquisition by Strangeworks is expected to bolster its capabilities in serving these prominent clients.
Quantum computing, considered one of the next billion-dollar markets, promises to solve computing tasks in seconds that would take today's computers hours or years. Potential applications of quantum computing are found in various industries, including pharma and healthcare, climate technology, renewable energy, industry, logistics, and banking and finance.
Sabina Jeschke, co-founder of Quantagonia, brings a wealth of experience to the table. She is previously the digital director of Deutsche Bahn and an AI professor at RWTH Aachen and TU Berlin.
Strangeworks prides itself on operating the world's largest catalog of quantum and quantum-inspired computing resources. The acquisition of Quantagonia is a testament to their commitment to expanding their presence in Europe and driving the quantum computing revolution forward.
As the quantum computing industry is still in its infancy, it is likely that we will see more acquisitions and exits in the future as this promising sector continues to grow and evolve.
