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Friday, June 18, 2021

Honeywell Quantum Spinoff

More quantum spin offs and directions.   Here Honeywell is involved.

Honeywell to Spin Off Quantum Unit in Merger With Software Firm  By Thomas Black

June 8, 2021, 1:13 PM EDT

Honeywell to invest up to $300 million in new computer entity

Quantum computing spinoff is likely to sell shares to public

Honeywell International Inc. plans to spin off its quantum computing business and merge it with a software firm to form a new company that is likely to trade publicly.

Honeywell will own a 54% stake of the venture after combining the business with Cambridge Quantum Computing Ltd., a London-based specialized software firm that will own the remaining 46%. Honeywell has committed to investing up to $300 million in the company, which may seek to sell shares to the public, said Tony Uttley, who heads Honeywell’s quantum computing business and will be president of the new entity.

“We are setting up this company to accelerate. This is truly about hyper-scaling,” Uttley said in an interview Tuesday. “You put the capital in now and grow massively.”  .... ' 

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