BRUSSELS/HELSINKI, Feb. 23 (GeokHub) — Finland-based quantum technology firm IQM Quantum Computers announced Monday that it plans to go public in the United States through a merger with special purpose acquisition company Real Asset Acquisition Corp.
The proposed transaction would give IQM an initial equity valuation of approximately $1.8 billion, marking a significant milestone for Europe’s growing quantum computing sector.
The deal is expected to close around June, according to IQM Chief Executive Officer Jan Goetz.
Quantum computing is widely viewed as a transformative technology capable of solving complex problems far beyond the reach of conventional computers. The sector has drawn major investment from global technology leaders including Microsoft, Alphabet, IBM, and Cisco, alongside increasing interest from governments concerned about cybersecurity and defense capabilities.
In particular, the technology’s potential to break current encryption standards has elevated its strategic importance.
“If you have a large enough quantum computer, you can break current encryption in some years,” Goetz said, highlighting why governments are closely monitoring advancements in the field.
SPAC Structure and Strategic Goals
Special purpose acquisition companies, or SPACs, are shell corporations that raise capital through an initial public offering and later merge with private firms to take them public. The SPAC market saw renewed momentum last year following a slowdown after the 2021 boom.
Under the proposed merger, Real Asset Acquisition Corp is expected to control roughly 10% of the combined company. IQM plans to retain its headquarters in Finland while gaining access to deeper U.S. capital markets.
Goetz emphasized that the listing is aimed at increasing visibility, attracting additional investment, and expanding business opportunities rather than securing U.S. federal funding. IQM’s investors already include Finnish and German government investment funds as well as the European Commission’s European Innovation Council.
Dual Listing in Europe
In addition to its planned U.S. debut, IQM intends to pursue a listing in Helsinki, positioning itself to become the first publicly traded European quantum computing company.
The move reflects Europe’s ambition to remain competitive in advanced technologies as quantum computing increasingly becomes central to national security, data protection, and next-generation computing systems.
